US home listings just hit a four year high while buyer demand dropped to its lowest point since February.
This gap is rewriting the rules for fall negotiations.
383,795 new listings hit the market in the four weeks ending August 30. That's an 8% jump year over year and the highest total since August 2022. But pending sales fell 2.5% during the same stretch as mortgage rates climbed to 6.66%.
The median home sold for $398,632, up 2.2% from last year. But here's what matters: sellers are starting to bend. Median asking prices dropped 0.1% as buyers push back on cost.
Months of supply rose to four, up from 3.7 a year earlier. Four to five months signals neither buyers nor sellers control the game. It's the first balanced market we've seen in years.
This shift creates openings that won't last once rates drop. If you've been watching from the sidelines, now's the time to move before inventory tightens again.
DM me directly and I'll walk you through what this means for your specific situation. I'll get back to you within the hour.
