Market Update · August 13, 2026 · 7 min read
I just read something that made me pause over my morning coffee. Redfin reported that the number of active homebuyers in the U.S. dropped to about 967,000 in July—a record low. Meanwhile, sellers hit roughly 1,463,000, meaning sellers outnumbered buyers by 51%.
Let me say that again: For every two buyers looking at homes right now, there are three sellers competing for their attention.
If you've been thinking about selling your house in Harford County, Baltimore County, or anywhere across Maryland, D.C., Pennsylvania, or Delaware, this number matters more than almost anything else you'll read this week.
The story isn't complicated. Mortgage rates are still hovering near one-year highs. Freddie Mac's latest survey shows the 30-year fixed at 6.67% as of today, and the 15-year at 5.96%. That's down a hair from last week's peak, but it's not exactly inspiring anyone to rush into a bidding war.
Add near-record home prices to those rates, and you've got a monthly payment that makes a lot of people just… wait. I sat with a young couple last weekend at an open house in Bel Air. Both have good jobs, solid credit, pre-approved. But when we ran the numbers on a $425,000 listing, the payment felt like a stretch they weren't ready to make. They're watching. Not buying. Not yet.
Redfin also found that home sales dropped to their lowest level in nearly two years in July, with Texas and Seattle leading the decline. Closer to home, the Mid-Atlantic isn't immune. Anne Arundel, Howard, and Montgomery counties all saw softening buyer activity through late July, though we're starting to see small signs of life in early August.
Economic instability doesn't help either. Between ongoing headlines about inflation, global trade tensions, and the mess in the Middle East, a lot of folks are just nervous. Buying a house is the biggest financial decision most people make. When the world feels wobbly, they hit pause.
Here's the thing, though: sellers are still listing. Maybe they have to move for a job. Maybe they've been waiting two years for rates to drop and finally gave up. Maybe they're downsizing, divorcing, or dealing with an estate.
Whatever the reason, inventory is climbing. Redfin's latest data shows that new listings are ticking up as we head into mid-August, and pending sales edged up just 0.4% week-over-week during the four weeks ending August 9. That's not a surge. That's a flicker.
What that means in practice: if you list your home in Baltimore County or Prince George's County right now, you're competing with more inventory than you would have six months ago, and you're doing it in front of fewer buyers.
I'm not saying don't sell. I'm saying you need to be strategic about it.
I've been a realtor long enough to know that overpricing is tempting. You see what your neighbor's house sold for in 2024, you remember the frenzy, and you think, "Let's try for that number."
Don't.
In a market where buyers have options and time, an overpriced listing just sits. It gets stale. Buyers scroll past it. The longer it lingers, the more people assume something's wrong with it. Then you're chasing the market down with price cuts, and you end up netting less than if you'd priced it correctly from day one.
I work with sellers all across Cecil, Harford, Howard, Charles, Anne Arundel, and Baltimore City. The ones who listen when I pull comps and say, "Here's what the market will actually bear right now"—those are the ones who get offers within two weeks. The ones who want to "test the market" at a higher number? They're still on the market in October.
If you're thinking about selling, let's talk pricing strategy before you commit to a number.
When buyers have fewer competitors, they get pickier. They notice the scuffed baseboards. They care about the outdated light fixtures. They wonder why you didn't bother to paint over that purple accent wall.
I wrote a whole prep guide for Prince George's County sellers a few days ago, and the advice holds true everywhere: clean, declutter, fix the obvious stuff, and make your home feel move-in ready.
You don't need to renovate. But you do need to make it easy for a buyer to imagine themselves living there. In this market, "good enough" loses to "wow, this is turnkey."
The days of 15 offers over asking in 48 hours? Gone. For now, anyway.
Expect buyers to ask for concessions. Expect them to request repairs after the inspection. Expect lower offers, especially if your house has been on the market more than three weeks.
That doesn't mean you roll over on everything. It means you need a realtor who knows how to negotiate without killing the deal. I spent 20+ years in education and leadership before I ever sold a house, so I approach this like a teacher, not a carnival barker. We talk through your priorities, we figure out where you can bend and where you can't, and we keep the deal moving.
Realtor.com reported this week that mortgage rates dipped slightly to 6.67%, easing off their one-year highs. Inflation data came in roughly as expected, which dimmed the odds of another Fed rate hike in September, according to Redfin's analysts.
If the Fed holds steady—and if inflation keeps cooling—we could see rates drift down toward 6.5% by the end of the year. Zillow is forecasting exactly that, though they're also warning that elevated borrowing costs will likely keep housing activity sluggish through the second half of 2026.
What does that mean for you? If you're a seller, it means relief probably isn't coming fast enough to save this summer. But if you price right and present well, you can still close a deal. If you're a buyer, it means you've got leverage right now—and if rates do drop later this fall, you'll have company again.
I cover a lot of ground: Maryland (Cecil, Harford, Montgomery, Howard, Anne Arundel, Charles, Baltimore County, and Baltimore City), D.C., York and Lancaster counties in Pennsylvania, and New Castle County in Delaware.
The trends aren't identical everywhere. Harford County has seen steadier activity than some of the pricier suburban markets, partly because we've still got relatively affordable inventory under $400K. Montgomery and Howard counties are feeling the squeeze more—higher prices, slower sales, more days on market.
In D.C. proper, condos are sitting longer than single-family homes. In York County, PA, I'm seeing buyers from Baltimore and Harford drift north looking for better deals, which is keeping that market a bit more competitive.
But across the board, the shift is the same: more sellers, fewer buyers, longer negotiations.
If you need to sell, sell. Life doesn't wait for the perfect market.
But go in with your eyes open. This isn't 2024. You're not going to list on Friday and have eight offers by Monday. You're going to need to price it right, prep it well, and be ready to work with the buyers who do show up.
And honestly? That's not a bad thing. The frenzy was exhausting. This market rewards people who do their homework, who listen to their realtor, and who treat buyers like partners instead of adversaries.
I've got active listings across the region right now, and you can see what's moving (and what's not) here. If you're curious what your home might realistically sell for in today's market, let's run the numbers together. No pressure, no pitch—just real data and a conversation about what makes sense for you.
The market's shifting. That doesn't mean it's broken. It just means the strategy has to shift, too.
Katrina Kirton Sherrod, REALTOR® · Samson Properties · Licensed in MD, DC, PA & DE · 443-616-9770 · Katrina@kkstherealtor.com
“The best time to buy a home was five years ago. The second best time is after we talk.” — Every honest realtor, eventually