New listings just hit their highest level in four years, giving homebuyers a bigger menu of choices than they have had since 2022. Redfin reported 383,795 new listings nationwide on a seasonally adjusted basis in the four weeks ending August 31, an 8% jump from a year earlier, according to Redfin’s own newsroom.
That is not a fluke week. It is the continuation of a slower, steadier trend that has been building most of the summer, and it means sellers who held off during the frenzy years are finally testing the market again.
More Homes, Less Competition For Them
Redfin’s report also found that the country now has four months of supply, up from 3.7 months a year ago. Four to five months of supply is generally considered a balanced market, meaning neither buyers nor sellers hold a decisive edge.
Buyers are still willing to compete for the good stuff. 25.9% of homes that sold went for above their asking price, per the same Redfin report, up slightly from 25% a year ago.
Prices Are Still Climbing, Just Not As Fast
The median home sale price nationally reached $398,632, up 2.2% year over year, while the median asking price actually dipped slightly, down 0.1%, according to Redfin. Mortgage rates averaged 6.66% for the week.
Pending sales, meanwhile, slipped 2.5% year over year, suggesting that even with more homes to look at, plenty of would-be buyers are still sitting on the sidelines waiting for rates to move. A wire distribution of the same report confirms the national active listing count climbed to 1,511,313, up 2.4% from last year.
Why This Matters If You Are House Hunting
More listings do not automatically mean a screaming deal. But they do mean less pressure to make a rushed decision on the first house you tour, and slightly more leverage to ask for repairs or a closing-cost credit. Coverage of the broader inventory trend notes that softening demand alongside rising supply has quietly tilted negotiating power back toward buyers in a growing number of metro areas.
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