We’re seeing a shift in the housing landscape: over the four weeks ending August 23, new U.S. listings ticked up 0.4% and total homes for sale rose 0.5%—the highest inventory since early Q2. But with the average mortgage rate still hovering near 7% (a 13-month high) and the median sale price up 1.9% year-over-year to over $400,000, many buyers are holding back, which pushed pending sales down 1.1% to a six-month low. For those still in the market, increased inventory and softer demand are creating more buyer-friendly opportunities. Active shoppers today have more room to negotiate on price or request concessions, especially on homes that have been listed for several weeks. Sellers are seeing the best results by setting realistic prices that reflect the current market, rather than chasing past highs. In our Spring Lake, Grand Haven, and Muskegon communities, we continue to help clients navigate these changing conditions—whether you’re looking for a waterfront retreat or your next single-family home, strategic pricing and negotiation are more important than ever.
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