We’re seeing a noticeable shift in the housing market right now. Over the four weeks ending August 23, there was a slight uptick in new US listings (up 0.4% week-over-week) and total homes for sale (up 0.5%), pushing inventory to its highest point since early in the second quarter. Yet, pending home sales dipped by 1.1%, hitting a six-month low. High housing costs are sidelining many buyers, even as more properties become available nationwide. The median US home-sale price climbed 1.9% year-over-year to just above $400,000, while average mortgage rates hovered near 7%—their highest point in roughly 13 months.
For buyers, these conditions mean more choices and, often, more room to negotiate—especially on homes that have been listed for several weeks. Sellers, meanwhile, are finding that realistic pricing is key, rather than aiming for the peaks of previous years. In my work across Massachusetts and Rhode Island, I’ve seen firsthand how understanding these trends can help both buyers and sellers make smart, confident decisions.
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