10/08/2026
Sales just hit their slowest pace in over a year. π
My buyers are about to have some real leverage.
Existing home sales fell 2.0% in August to a seasonally adjusted annual rate of 3.98 million β the first time in over a year the pace dropped below 4 million. The reason isn't a mystery: the 30-year mortgage rate averaged 6.67% in August and climbed even higher the following week, its highest level in over a year. Rates went up. Buyers pulled back.
But here's the shift β housing supply just hit its highest level since 2019, pushing months of supply to a decade-plus high. NAR's chief economist put it plainly: the extra inventory is giving buyers better opportunities to negotiate.
Slower market. More leverage. That combination doesn't last forever.
π² DM "LEVERAGE" and let's get you pre-approved.
Sources: National Association of Realtors, Freddie Mac, via Bloomberg and Mortgage Professional America, Sept 10, 2026