In the past four weeks ending August 23, we've seen a slight uptick in new US listings—up 0.4% weekly—and a 0.5% rise in total homes for sale, bringing inventory to its highest point since early Q2. While this means more options for buyers, pending US home sales dipped 1.1% weekly to a six-month low, showing that high housing costs are still keeping many on the sidelines despite the improved selection. The median US home-sale price is up 1.9% from last year, now topping $400K, and average mortgage rates are hovering near 7%, marking a 13-month peak. With inventory building and demand softening, buyers currently have more negotiating power—including the possibility of price cuts or concessions, especially in properties that have been listed for several weeks. For sellers, realistic pricing—rather than holding out for last year’s numbers—remains key to success. As someone deeply familiar with local trends in Baltimore, Baltimore County, Harford County, Anne Arundel, and Howard, I always keep these national shifts in mind to help clients navigate our dynamic market.
Leave a Reply