Author: Carol Smith

September brought some notable shifts across the U.S. housing market, and I’ve been tracking these signals closely to help my clients navigate the landscape with confidence. Pending home sales, after eight months of steady gains, edged slightly negative compared to last year—higher borrowing costs are clearly slowing buyer activity. Contract signings softened, average days on market rose to 60, and mortgage rates moved from around 6% in late Q1 to the high-6% range.

For those considering a move, buyers are gaining a bit more leverage: the median list price dipped to $424,500, price cuts are visible on about 20% of listings, delistings dropped year-over-year, and active inventory crept up by about 4%. Still, even with more homes on the market, national inventory remains about 11% below pre-pandemic norms, highlighting the ongoing housing shortage beneath the surface.

As a local High Desert specialist, I’m paying close attention to seller delistings, evolving pricing strategies, and how our region compares with national trends. It’s a dynamic time, and my focus is on helping you move forward with clarity—whether you’re buying, selling, or just exploring your options.

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In the four weeks ending August 23, new US listings ↑0.4% weekly, while total homes for sale ↑0.5%, reaching their highest levels since Early-Q2.
Pending US home sales ↓1.1% weekly to a 6-mo low, as high housing costs kept many buyers sidelined despite inventory improving nationally.
The median US home-sale price ↑1.9% yearly to >$400K, while the avg. mortgage rate sat near 7%, close to a 13-mo high.
Rising inventory and softer demand created buyer-friendly conditions, giving active shoppers more room to negotiate price cuts or concessions in many US markets.
Experts said homes listed for several weeks often offered the best leverage, while sellers benefited from realistic pricing instead of chasing prices from prior years.

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One of the best signals for understanding shifts in our real estate market is the share of cash sales. Recently, about 25% of existing-home transactions in the US have been cash deals. Cash sales often provide a clearer, faster read on market dynamics than traditional mortgages or new construction numbers. When we see cash buyers competing even as prices rise, it's a sign of strong demand and heightened buyer competition. But if cash purchases rise while overall sales volume drops, it often points to financing challenges sidelining those who rely on loans. Conversely, when cash sales decrease but prices remain steady, it may mean lending conditions have improved—allowing more buyers to step back in and helping the market normalize.

In the High Desert and beyond, smaller cash investors often step in on homes facing probate, tax issues, deferred maintenance, or when families are relocating. These properties—especially older homes—continue to attract attention from cash buyers, particularly when affordability becomes a concern and financed purchases slow down. Local expertise is crucial: factors like property taxes, title insurance, renovation costs, and hands-on management make scaling difficult, but they also reward those who truly know the area and approach each deal with discipline.

Looking forward, I expect we'll see greater consolidation of margins rather than a wave of large-scale buyouts. For international investors, the best results may come from partnering with local experts rather than trying to navigate our unique markets alone. As always, my focus remains on guiding clients through these trends with clear communication and an unwavering commitment to their goals—making every step as smooth and rewarding as possible.

We're seeing a subtle but important shift in the real estate market: new listings in the US are up 0.4%, and total homes for sale have risen 0.5%. Both figures are now at their highest points since late first quarter and mid-second quarter, respectively. Meanwhile, pending home sales have dropped by 1.1%, marking a six-month low as buyers navigate median prices above $400,000 nationwide. Financing costs are holding steady in the mid-6% range—just under recent peaks—which has led some buyers to pause, hoping for more favorable rates or a bit more economic clarity.

For those actively searching, this increase in inventory and softer demand means there could be more room to negotiate—whether that's a price reduction, seller concessions, a rate buydown, or repairs on homes that have been on the market a bit longer. From my years helping clients in the High Desert, I've seen how the right strategy and timing can make all the difference. Pricing a home correctly from the start remains key for sellers, while buyers may have a valuable window of opportunity before activity potentially increases later in the third quarter. My approach always centers on clear communication and strong negotiation, ensuring you’re positioned for the best possible outcome in any market environment.

Labor Day in the United States celebrates the contributions of workers everywhere, while also unofficially marking the final big summer weekend before fall takes over.
It’s known for backyard barbecues, road trips, and that classic tradition of buying things you didn’t know you needed because “it’s on sale.”
Beaches, parks, and grills reach peak activity as everyone tries to squeeze every last drop of summer fun out of the long weekend.
Happy Labor Day! Wishing you a fun, easygoing weekend filled with good vibes, great food, and absolutely no thoughts about Monday.