Over the past four weeks ending August 23, we’ve seen a subtle but important shift in the housing market: new US listings edged up 0.4% and total homes for sale climbed 0.5%, pushing inventory to its highest point since early Q2. Yet, even with more options on the table, many buyers remain cautious—pending home sales dropped 1.1% week-over-week, reaching a six-month low as affordability concerns persist. The median sale price crossed $400K (up 1.9% year-over-year), and the average mortgage rate hovered near 7%, not far from a 13-month high.
For active buyers, these conditions are opening up more room to negotiate—price cuts and concessions are increasingly on the table, especially for homes that have been listed for several weeks. Sellers who are realistic about pricing, rather than chasing peaks from prior years, are finding more success. In my three decades advising buyers, sellers, and investors in Tucson and across Arizona, I’ve found that understanding these subtle market rhythms and negotiating from a position of knowledge is key to creating long-term value. The opportunities are there, but they require a strategic mindset and a careful reading of the numbers.
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