We’re seeing a noticeable shift in the housing market: in the four weeks ending August 23, new US listings edged up 0.4% and total homes for sale increased by 0.5%, reaching the highest levels since early Q2. While this expanded inventory gives buyers more options, pending home sales dipped 1.1% to a six-month low, largely because high housing costs are keeping many buyers on the sidelines—even as choices improve. The median US home-sale price climbed 1.9% year-over-year to just over $400,000, with average mortgage rates hovering near 7%, close to their highest point in 13 months.
For buyers, this environment creates more opportunities to negotiate—especially on homes that have been on the market for several weeks. Sellers who approach pricing realistically, rather than aiming for last year's peak, are seeing better results. In my two decades helping clients buy and sell luxury properties across Encino, Tarzana, and Woodland Hills, I’ve learned that smart negotiation and a clear strategy are key in a changing market. Whether you’re considering your first home or looking to sell for top dollar, understanding these trends will help you navigate your next move with confidence.
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