09/23/2026
More Homes Hit the Market as Demand Cools
We're seeing an interesting shift in the housing market lately: in the four weeks ending August 23, new listings across the US edged up by 0.4%, and total homes for sale increased by 0.5%, reaching their highest point since early Q2. At the same time, pending home sales dropped 1.1% to a six-month low. It's clear that higher housing costs are making some buyers pause, even as more options become available. The median home-sale price has risen 1.9% year-over-year, now topping $400,000, and the average mortgage rate is hovering near 7%—about a 13-month high.
What does this mean for buyers? With inventory rising and demand a bit softer, there’s more opportunity for negotiation. Homes that have been on the market for several weeks often provide the most leverage for buyers, while sellers are seeing better results with realistic pricing rather than holding out for past peaks. As someone who’s spent years both in real estate and the home improvement industry here in the NC Foothills, I always encourage my clients to look carefully at homes that may have lingered on the market—a keen eye for value (and construction quality!) can make all the difference in a shifting market.