As we move through late August, we’re seeing a noticeable shift in the housing market: new listings across the US increased by 0.4% in the four weeks ending August 23, with total homes for sale also ticking up by 0.5%—reaching the highest levels since early Q2. Yet, even as inventory improves, pending home sales dropped 1.1% week-over-week to a six-month low. High housing costs are clearly keeping many buyers on the sidelines, despite more options becoming available nationwide. The median home-sale price has inched up 1.9% year-over-year to over $400,000, while average mortgage rates hover near 7%, close to a 13-month high. These shifts have created more buyer-friendly conditions, offering active house hunters increased negotiating power for price reductions or concessions, especially in many local markets. From my years helping families in the Western Suburbs, I can tell you that homes sitting on the market for several weeks often present the best opportunities for buyers—while sellers benefit most from realistic pricing strategies, rather than chasing last year’s highs. My background in banking and commercial real estate has shown me the value of smart negotiation and honest guidance in moments like these.
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