We’re seeing a shift in the housing market this month. Over the four weeks ending August 23, there was a slight uptick in new US listings (up 0.4%) and total homes for sale (up 0.5%), pushing inventory to its highest level since early Q2. At the same time, pending home sales dropped by 1.1%—hitting a six-month low. With mortgage rates hovering near 7% (the highest in 13 months) and the median home-sale price up 1.9% year-over-year to over $400,000, it’s clear that high housing costs are causing many buyers to pause, even as more options become available nationwide.
For buyers in today’s market, rising inventory and softer demand mean there’s more room to negotiate—whether it’s on price or concessions. In my experience, homes that have been on the market for several weeks often offer the best opportunities for buyers to secure favorable terms. For sellers, realistic pricing is key; chasing last year’s prices rarely pays off. After nearly two decades in Arizona real estate—including time on both the loan and commercial sides—I’ve found that tailored guidance makes all the difference. Whether you’re looking for your next home or thinking about selling, understanding these trends is crucial for making confident decisions.
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