US Homebuyers Gain More Leverage as Homes for Sale Reach a Nearly Seven-Year High
United States | September 11, 2026
The US housing market is giving buyers more room to negotiate as the supply of existing homes for sale climbed to its highest level in nearly seven years in August.
According to the latest National Association of Realtors data, inventory reached 1.62 million homes, up 5.9% from a year earlier. At the same time, existing-home sales fell 2% from July, marking the third consecutive monthly decline.
More Homes Are Shifting Bargaining Power to Buyers
The current inventory represents about 4.9 months of supply, moving the market closer to conditions where buyers have greater negotiating power.
For buyers, the additional choice could mean more opportunities to negotiate on price, closing costs, repairs or other purchase terms. Sellers, meanwhile, may need stronger pricing and property presentation to compete for attention.
Sales Are Slowing Despite Better Affordability
Existing-home sales fell to a seasonally adjusted annual rate of 3.98 million in August, while sales were also 1.2% below August 2025.
Affordability has improved, however. The typical homeowner's principal and interest payment fell to 23.9% of income from 24.6% in July, while wage growth and job creation have provided some support for housing demand.
Mortgage Rates Remain the Biggest Constraint
The improvement in supply has not translated into stronger transactions because borrowing costs remain a major hurdle.
Mortgage rates stayed close to 7% during August, keeping monthly payments high even as buyers gained more negotiating power. This means a lower purchase price does not necessarily make a home affordable if financing costs remain elevated.
What This Means for Property Buyers and Sellers
For buyers, the market is becoming more favorable for comparison shopping and negotiation. Buyers can potentially take more time to inspect properties and evaluate competing listings instead of rushing into deals.
Sellers face a different environment. With more competing inventory available, overpriced homes could take longer to sell or require concessions.
The biggest question for the US property market is whether rising inventory will continue while mortgage rates remain high. If supply keeps building and sales stay weak, buyers could gain even more leverage in the months ahead.