August 20, 2026, EDITION

The number of homes for sale is now at its highest level in nearly seven years. Active inventory approached 1.2 million homes in August, giving today’s buyers a much broader selection than they had during the tighter markets of recent years.

Homes are still moving at a healthy pace. For eleven straight weeks, properties have sold as quickly as or faster than they did a year ago, showing that buyers are responding when the right home hits the market.

Financing options are expanding for qualified buyers. Mortgage credit availability recently reached its highest level in four years, opening the door to a wider range of loan options as the market heads toward fall.

Late summer is creating a different kind of opportunity for buyers. With more homes to compare, shoppers can be more selective about location, condition, and price instead of feeling pressured to jump at the first available option.

Sellers are adjusting to today’s market, too. More than 100,000 homes received price reductions for several consecutive weeks, a sign that homeowners are responding to buyer expectations and working to keep their listings competitive.

Current homeowners remain on solid footing. Mortgage delinquencies improved during the second quarter, while many owners continue to benefit from equity built over the past several years.

DID YOU KNOW?…Homes for sale are now at their highest level since November 2019, nearly double the pandemic-era low reached in August 2021.

Mortgage rates recently moved lower after climbing earlier in the month, offering some welcome relief for prospective buyers. Cooler inflation helped ease pressure on bond yields, which in turn allowed mortgage rates to improve to their lowest level in nearly four weeks. With inflation showing signs of moderation, there may be more room for rates to settle as the market heads toward fall. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.

Having more homes to choose from can make it harder to narrow your search. Before touring, identify the three or four features that matter most to you. Keeping those priorities front and center can make it easier to recognize the right home without getting distracted by options that don’t truly fit.

Price reductions are becoming more common, which makes getting your price right from the beginning especially important. Look closely at what comparable homes are actually selling for, not just their asking prices. A thoughtful starting price can help generate interest early and avoid chasing the market later.