Market Update: Over the four weeks ending August 23, we saw a modest increase in new US listings—up 0.4% week-over-week—with total homes for sale rising 0.5%. This pushed inventory to its highest point since early Q2. Yet, pending home sales slipped by 1.1%, marking a six-month low. With the average mortgage rate hovering around 7% (a 13-month high), and the median sale price climbing 1.9% year-over-year to just over $400,000, affordability is keeping many buyers on the sidelines. For those actively searching, this mix of increasing inventory and softer demand is creating more negotiation power: price cuts and concessions are becoming more common, particularly for homes on the market a few weeks. Realistic pricing is proving most effective for sellers. With nearly two decades of experience helping buyers and sellers navigate changing markets in Coastal Georgia, South Carolina, and Florida, I always emphasize the importance of strategy—whether you're looking for leverage as a buyer or aiming to price your home competitively as a seller.
