Housing Supply at a Decade High (2026): How Homebuyers Can Negotiate

For years, the advice to buyers was "be ready to move fast and waive everything." That's not today's market in most of the country. The latest national data shows buyers have more choices and more time than they've had in a long while.

What the national numbers say

According to the National Association of REALTORS®, existing-home sales slipped 2.0% in August 2026 to a seasonally adjusted pace of 3.98 million. Inventory rose to 1.62 million homes, up nearly 6% from a year earlier. That's 4.9 months of supply, the highest level in more than a decade. Homes averaged 31 days on the market.

Prices didn't fall, though. The national median existing-home price was $429,100, up 1.6% from a year earlier. Supply is catching up, but sellers aren't slashing prices across the board.

Where the leverage really is

When homes sit longer, sellers get more flexible. But a lower price isn't always the best ask. Here are the levers worth knowing:

Seller concessions. The seller pays part of your closing costs. This can be worth more to you than the same amount off the price if you're tight on cash.
A seller-paid rate buydown. The seller prepays interest to lower your rate, either for a year or two (a temporary buydown) or for the life of the loan. This can lower your monthly payment more than a price cut of the same cost.
Repairs or a repair credit. After the inspection, you have more room to ask for fixes.
Timing. A closing date that fits your lease or your sale.

Know the limits

Every loan program caps how much a seller can contribute toward your costs, usually as a percentage of the price. Conventional, FHA, VA and USDA loans each have their own limits. Ask your lender before you write the offer so your agent asks for an amount you can actually use.

Iowa is its own market

National numbers set the mood, but local markets move on their own. In Central Iowa, existing homes in popular suburbs still sell quickly, while new construction has much more supply. See what the local numbers show.

If you're writing an offer and want to compare a price reduction against concessions or a buydown, send me the numbers. I'll show you exactly how each option changes your cash to close and your monthly payment.

Frequently asked questions

What can I negotiate when buying a house besides the price?

Common asks include seller-paid closing costs (called seller concessions), repairs or a repair credit after inspection, a seller-paid rate buydown, a flexible closing date, and including appliances or furniture. Loan programs limit how much the seller can contribute, so check with your lender before you write the offer.

Is a seller concession better than a lower price?

It depends on how much cash you have. A price cut lowers your loan and payment slightly. A concession puts cash toward your closing costs or a rate buydown, which can matter more if you're short on funds at closing. A lender can show you both side by side.