As we move through late August, there’s a noticeable shift in the real estate landscape: new listings nationwide have edged up 0.4% over the past four weeks, and the total number of homes for sale has increased by 0.5%, now reaching their highest point since early spring. Yet, even as more options appear, pending home sales have dipped 1.1%—the lowest we’ve seen in six months. The combination of a median sale price above $400,000 (up 1.9% from last year) and mortgage rates hovering near 7%, a 13-month high, has understandably caused many buyers to pause their search.
What does this mean for those actively navigating the market? Increasing inventory and cooler demand are creating more balanced, buyer-friendly conditions. For those ready to make a move, there’s greater opportunity to negotiate—especially on homes that have been listed for several weeks. Sellers, meanwhile, are finding that realistic pricing is key, rather than holding out for numbers we saw in previous years.
With two decades of experience guiding clients through changing markets in the Greater Greenville area, I’ve found that careful listening and clear communication are crucial. Whether buying or selling, having up-to-date knowledge—and a partner focused on your best interests—can make all the difference in a shifting market.
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