U.S. Housing Supply Reaches a Six-Year High in August
In August 2026, U.S. new home listings reached their highest level since early 2022 according to Redfin data, with significant increases reported in San Jose, Nashville, and Seattle. The total number of homes for sale also hit a six-year high as more homeowners list properties amid fading mortgage-rate lock-in effects and shifting market conditions. Three out of five homes sold below their original asking price, indicating growing buyer negotiating power. The median home-sale price rose 2.2% year over year to $398,596 in August—the highest level on record for the month—while mortgage rates climbed to 6.67%, the highest since early 2025. Despite rising supply, pending and closed sales remained flat or declined slightly due to high housing costs deterring buyers. Regional factors contributed to local listing surges: San Jose saw renewed interest from AI-driven demand; Nashville's strong buyer’s market led sellers to act quickly before potential price drops; Seattle experienced a surge in listings as some delayed sellers re-entered the market despite weak buyer activity.
