National pending sales dropped 4.7 percent in August. Everyone's asking if it's finally a buyer's market. Here's what the data actually shows.
Falling contracts don't mean more choices. They mean fewer deals happening. In Austin, pending sales rose 1.5 percent while active listings fell 6.5 percent. Buyers aren't choosing from more homes. They're competing over fewer.
Builder confidence hit a three year low at 32. Forty percent are cutting prices. Two thirds are writing incentives just to move inventory. But permits are falling. The homes not started today won't be listed in 2027.
Real estate moves slow. Prices lag decisions by 30 to 60 days. One month doesn't make a trend. Well priced homes in the Phoenix Valley are still closing at 93 percent of list. More than half of what's sitting has already taken a cut.
Seasonality matters more than headlines. Demand drops every fall. It's not weakness. It's the calendar.
I can show you what well priced homes are doing right now in your neighborhood.
DM me directly and I'll send you the current numbers for your area.
