We're seeing a notable shift in the housing market: over the four weeks ending August 23, new listings nationwide edged up 0.4% week over week, with total homes for sale rising 0.5%. This brings inventory to its highest point since early in the second quarter. Yet, while more options are returning to the market, pending home sales dipped 1.1% in the same period, hitting a six-month low. High housing costs—paired with average mortgage rates hovering near 7%, a 13-month high—are keeping many buyers on the sidelines, even as inventory improves across the country. The median US home-sale price now sits 1.9% higher than last year, crossing the $400,000 mark.
For buyers, these conditions have created new opportunities: rising inventory and tempered demand mean there’s more room to negotiate on price or secure seller concessions, especially on homes that have been listed for several weeks. For sellers, realistic pricing is key—those who align with current market values are best positioned to attract serious offers, rather than chasing prices from past years. Having spent decades advising clients in Miami’s dynamic real estate market, I’ve seen firsthand how important it is to stay attuned to these trends and approach each transaction with both strategy and flexibility. Whether buying, selling, or investing, a thoughtful approach is your best advantage in today’s evolving landscape.
Leave a Reply