More Homes Available: Opportunities Grow for Buyers

New home listings increased 0.4% to the highest level since April, with total homes for sale rising 0.5% to the highest since May. However, pending home sales dropped 1.1% to a six-month low as high housing costs and mortgage rates near 6.65% deter buyers. Rising inventory and falling demand create a buyer's market in many areas, offering opportunities for price negotiations and concessions, especially before Labor Day.