It’s been an interesting few weeks for the housing market, and I’ve noticed the shift firsthand right here in Naperville. Nationally, in the four weeks ending August 23, new listings edged up 0.4% and total homes for sale rose 0.5%—the highest levels we’ve seen since early spring. At the same time, pending home sales dipped 1.1% to a six-month low. With the average mortgage rate hovering near 7% and the median sale price just above $400,000 (up 1.9% from last year), many buyers are pressing pause, even as more homes become available.
For those still searching, increased inventory and softer demand are creating more buyer-friendly conditions. There’s more room to negotiate, pursue price reductions, or request concessions—especially on homes that have been on the market for several weeks. Sellers are finding that realistic pricing is key now, rather than chasing last year’s numbers. After two decades helping Naperville buyers and sellers navigate changing markets and life transitions, I know that timing and strategy matter. Whether you’re looking to seize new opportunities or simply want a clearer view of what’s out there, the landscape is shifting—and there are real options to consider.
Leave a Reply