More Homes Hit the Market as Demand Cools | Let me put my 30+ years of experience in Lake of the Ozarks real estate to work for you!

We’re seeing a notable shift in the national real estate landscape: in the four weeks ending August 23, new home listings in the US rose by 0.4% and total inventory increased by 0.5%—the highest level since early Q2. Yet, even with more homes on the market, pending sales dropped 1.1% to a six-month low. High housing costs are still keeping many buyers on the sidelines, despite the uptick in inventory. The median home-sale price is up 1.9% year-over-year, now topping $400,000, and average mortgage rates remain close to 7%, a 13-month high. These conditions are creating new opportunities for buyers—there’s more room for negotiation, whether it’s on price or concessions, especially on properties that have been listed for several weeks. For sellers, realistic pricing is proving to be the smartest approach, rather than reaching for last year’s highs. After more than 40 years guiding clients through changing markets here in the Lake of the Ozarks, I know how important it is to stay informed and flexible as the market evolves.