Lately, I've noticed an interesting trend in the market: more homes are coming up for sale, with new US listings rising by 0.4% and total inventory up 0.5% in the four weeks ending August 23—both hitting their highest levels since early spring. Yet, buyers are holding back, with pending home sales dropping 1.1% to a six-month low. Even as the median home price has risen 1.9% year-over-year to just over $400,000, and mortgage rates hover near 7% (a 13-month high), there’s a real shift happening. For many first-time buyers I work with, this means more choices and greater negotiating power—homes sitting on the market longer often allow for price cuts or valuable concessions. Sellers who set realistic prices from the beginning are seeing the best results. If you’re navigating these changes—whether you’re hoping to buy your first home, need advice on down payment assistance programs in NJ, or want to make the most of your sale—I’m here to help you weigh your options and move forward with confidence.
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