Market Update · August 30, 2026 · 9 min read
HousingWire reported this weekend that housing demand has slowed—but then buried the lede: new listings data is still positive year-over-year. Meanwhile, Redfin's weekly update shows new listings hit a four-month high during the four weeks ending August 23, up 0.4% from the week before.
Translation? More homes are hitting the market. Fewer buyers are chasing them.
I've been writing about this shift for weeks—most recently in my post on new listings—but now the numbers are getting harder to ignore, even for sellers who've been holding out hope for the frenzied spring of 2025 to return.
It's not returning.
Let me walk you through what I'm seeing on the ground in Cecil, Harford, Baltimore County, Montgomery, Howard, Anne Arundel, DC, York, Lancaster, and New Castle, and what the national data tells us about where we're headed through fall.
According to Redfin's August 27 report, new listings climbed to their highest level since April. At the same time, fewer buyers are actually purchasing homes. The total number of homes for sale is still below pre-pandemic levels, but the direction matters more than the absolute number right now.
When I sit down with sellers in Bel Air or Elkton or Columbia, I show them this: the balance of power is shifting. Not overnight. Not dramatically. But steadily.
Buyers have more choices. They're taking their time. They're asking for concessions—things like seller-paid closing costs, home warranties, repair credits. A year ago, that would've gotten you laughed out of the room. Today? It's routine in most price bands outside the very low end.
I had an open house two weekends ago in northern Harford County. Priced right, good condition, move-in ready. Four years ago, we'd have had a line out the door. Last year, maybe a dozen serious lookers and an offer by Monday.
This time? Six groups. Polite. Interested. Nobody in a rush.
One couple told me they were looking at three other houses that weekend. Another said they'd been searching since June and felt no pressure because "stuff keeps coming up." That's the shift. Inventory isn't flooding the market, but it's no longer a scavenger hunt, either.
The same pattern holds in Montgomery County, Anne Arundel, even parts of Baltimore City that were seeing bidding wars last spring. More listings. Longer days on market. And yes, price cuts.
Redfin's data shows homes are taking 49 days to sell nationally, unchanged from last year. But in pockets of the Baltimore-Washington corridor, I'm seeing that number tick up, especially for homes priced above median or needing any kind of work.
You can't talk about demand without talking about rates. Freddie Mac's latest survey pegs the 30-year fixed at 6.66% as of August 27. That's up sharply from earlier in the summer, driven in part by Fed Chair Warsh's Jackson Hole speech that spooked the bond market (I covered that in detail here).
Higher rates = fewer qualified buyers = less urgency.
It's not rocket science. A buyer who could afford $450,000 at 6.0% is now looking at $420,000 at 6.66%, or they're stretching their budget and getting cold feet. I've had three purchase contracts fall apart in the past month—not because of inspection issues or appraisals, but because buyers got pre-approved in July, rates jumped in August, and their lender re-ran the numbers.
The pressure is real. It's especially acute for first-time buyers in Maryland trying to use down payment assistance programs, which I wrote about in this post. When rates climb, loan limits tighten, and suddenly people are scrambling.
If you're thinking about selling in Harford County, Baltimore County, Howard, or anywhere in my coverage area, this is not the time to get cute with pricing.
I know you saw your neighbor's house sell for $575,000 last April. I know Zillow says your house is worth $560,000. I know your uncle's friend's cousin is a "real estate investor" who told you to list high and see what happens.
Don't.
The market has changed. Buyers have options. They're comparison shopping. They're walking away from overpriced listings and waiting for the next one. If you price aggressively, you'll sit. And once you sit for 30, 45, 60 days, you're chasing the market down with price cuts, and everyone knows you're desperate.
I'd rather price it right the first time, generate activity in the first two weeks, and get it done. Clean sale, clean close, on to the next chapter.
Remember when buyers waived inspections, paid over ask, and wrote love letters? That era is over for most of us. Now, buyers are asking for:
You don't have to say yes to all of it. But if you're competing with new construction that's offering $15,000 in incentives or a resale down the street that's offering to cover closing costs, you need to be realistic about what it takes to get the deal done.
If you've been sitting on the sidelines waiting for the "right time," this is about as good as it's going to get for a while.
Inventory is up. Demand is softening. Sellers are more willing to negotiate. Rates aren't great—6.66% is nobody's idea of fun—but they're not going to fall off a cliff unless something breaks in the economy, and I'm not betting on that.
This is the market where you can ask for an inspection, ask for repairs, ask for closing cost help, and actually get a response other than "no." I just closed a deal in Anne Arundel County where the buyers got the seller to cover $8,000 in closing costs and replace the HVAC system. A year ago, that house would've had five offers and gone $20,000 over ask with no inspection.
Don't be afraid to negotiate. The worst they can say is no, and in this market, a lot of sellers are saying yes because they need to move.
Check out what's available in your target area and watch how long things sit. If you see a house that's been on the market 45+ days and just had a price cut, that's a seller who's ready to deal. If you see a house that just listed yesterday and is priced in line with recent solds, that's a seller who gets it—still worth a look, but you won't have as much room to negotiate.
I send my buyer clients weekly updates on new listings, price changes, and trends in their target neighborhoods. It's part of the teaching-not-selling approach I learned in 20+ years of education and leadership before I ever got my real estate license. If you want that kind of insight, reach out and let's talk about what you're looking for.
Here's what I want you to understand: the market is softening, not crashing.
HousingWire's headline said demand is "still stable for now," and that's the key phrase. We're not seeing panic selling. We're not seeing foreclosures spike. We're not seeing builders dump inventory at fire-sale prices (though builder inventory is elevated—I wrote about that here).
We're seeing a market that got overheated in 2024 and 2025, cooled off in 2026 as rates climbed, and is now settling into something closer to normal. More choices for buyers. More work for sellers. Transactions that actually involve negotiation instead of bidding wars.
If you're a buyer, that's good news. If you're a seller, it means you need to be strategic, realistic, and willing to work with a realtor who understands the data and can position your home to win in a more competitive environment.
National headlines are useful. They give us the 30,000-foot view. But real estate is local, and what's happening in San Diego (where homes are selling eight days faster than last year, per Redfin) has nothing to do with what's happening in Harford County or Prince George's County or York County.
In my markets, I'm seeing:
If you want to know what's happening on your street, in your price range, in your school district, that's a conversation we should have. I pull comps every day. I know what's moving and what's not. And I'll tell you the truth, even if it's not what you want to hear.
I spent two decades in education before I ever sold a house. I learned that people make better decisions when they understand the "why" behind the "what." So here's the why:
The market is rebalancing. Buyers have more leverage than they've had in years. Sellers need to adjust expectations and strategy. And everyone—buyers, sellers, agents—needs to stop waiting for the market to "go back to normal" and recognize that this is the new normal, at least for now.
If you're ready to buy or sell in Maryland, DC, Pennsylvania, or Delaware, let's talk. I'll show you the numbers. I'll walk you through the process. And I'll make sure you understand what you're getting into before you sign anything.
Katrina Kirton Sherrod, REALTOR® · Samson Properties · Licensed in MD, DC, PA & DE · 443-616-9770 · Katrina@kkstherealtor.com
“Real estate cannot be lost or stolen, nor can it be carried away. It is about the safest investment in the world.” — Franklin D. Roosevelt (paraphrased)