As we move through late summer, it’s notable to see new home listings in the U.S. rise by about 3% month-over-month in mid-Q3—the highest level in more than four years. This shift, thanks in part to easing mortgage-rate lock-in, has led to an overall increase in total homes for sale (up ~4% MoM), giving buyers more choices and sellers more motivation to adapt to evolving market conditions across the country. Pending home sales held steady, while closed sales dipped slightly, suggesting buyers are weighing their options carefully as inventory improves. With the median U.S. sale price reaching around $399K (a 2% year-over-year increase) and mortgage rates averaging near 7%, affordability remains a challenge for many. Still, a larger selection empowers buyers to negotiate—about 60% of homes sold below their original asking price in mid-Q3. In my experience guiding Bay Area clients, patience and a strategic approach are key when navigating these changing conditions, whether you’re weighing offers or searching for the right fit.
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