We’re seeing a shift in the housing market across the US: for the four weeks ending August 23, new listings edged up 0.4% and total homes for sale rose 0.5%, reaching their highest point since early Q2. At the same time, pending home sales dropped 1.1% to a six-month low, as many buyers took a step back due to elevated housing costs—even as more inventory became available nationwide. The median home-sale price climbed 1.9% year-over-year to above $400K, with average mortgage rates hovering near 7%, close to a 13-month high.
What does this mean for buyers and sellers? With inventory rising and demand cooling, it’s becoming a more buyer-friendly environment—there’s more room for negotiation, price cuts, or concessions in many markets. In my Orange County practice, strategic pricing has never been more important for sellers: homes that have been listed for several weeks often offer buyers the most leverage, while sellers who price realistically from the outset are seeing the strongest results. After 26 years and over 1,800 successful transactions, I know that adapting your approach to market conditions is key to making the most of your real estate goals.
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