New Listings Rise as Summer Comes to a Close

As summer winds down, we’re seeing a slight uptick in new home listings across the U.S.—up 1.2% to the highest level in three months. At the same time, pending sales have dipped by 1.3%, reaching their lowest point since March. Interestingly, the median asking price edged down just 0.1%, even though the median sale price is still 1.8% higher than this time last year. These shifts come as buyers and sellers alike navigate higher mortgage rates and a bit more economic uncertainty. After 40 years helping Richmond clients make confident real estate decisions, I know how important it is to stay tuned to these market movements. If you’re considering your next step, having a trusted advisor makes all the difference.