We're seeing a subtle shift in the housing market—across the US, new listings ticked up 0.4% and total homes for sale rose 0.5% in the four weeks ending August 23, hitting the highest point since early spring. Yet, even as options increase, pending home sales dipped by 1.1% to a six-month low, as many buyers are pausing due to high housing costs. The national median sale price climbed 1.9% over last year to over $400,000, with average mortgage rates hovering near 7%, close to a 13-month high.
For active buyers, this landscape brings opportunity. Increased inventory and softer demand are making it easier to negotiate on price or ask for concessions—especially on homes that have been listed for several weeks. Sellers are finding that setting a realistic price, rather than chasing last year’s peaks, leads to better results. In my years helping clients in the Outer Banks and Carova’s distinctive market, I’ve found that understanding these shifts and pricing strategically is key to maximizing value, whether you’re buying or selling in a unique coastal community.
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