{"id":86725,"date":"2026-08-06T06:00:00","date_gmt":"2026-08-06T13:00:00","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=86725"},"modified":"2026-08-06T05:48:36","modified_gmt":"2026-08-06T12:48:36","slug":"summer-housing-market-austin-chicago-nashville-san-diego-july-2026","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/summer-housing-market-austin-chicago-nashville-san-diego-july-2026\/","title":{"rendered":"Slow Summer Housing Market Gives Buyers More Time, Choices and Negotiating Power"},"content":{"rendered":"<ul>\n<li><i><span style=\"font-weight: 400;\">Homebuyers have more choices and more time to make decisions as the market has slowed this summer and sellers are increasingly adjusting their expectations to match, according to Redfin agents.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Well-priced, move-in-ready homes are still selling quickly, showing that buyer demand is strong for desirable properties.<\/span><\/i><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-fall-rates-increase\/\"><span style=\"font-weight: 400;\">U.S. housing market has settled into a slower pace<\/span><\/a><span style=\"font-weight: 400;\"> this summer, giving buyers more time to shop and negotiate than they had during the bidding wars of recent years. <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-demand-slows-rates-hit-high-level\/\"><span style=\"font-weight: 400;\">High mortgage rates are weighing on demand<\/span><\/a><span style=\"font-weight: 400;\">, while rising inventory is giving buyers more leverage. It\u2019s forcing many sellers to price carefully and offer <\/span><a href=\"https:\/\/www.redfin.com\/news\/home-seller-concessions-record-high-rate\/\"><span style=\"font-weight: 400;\">concessions<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That doesn\u2019t mean every market looks the same. Austin and Nashville strongly favor buyers, while buyers are competing for homes in parts of Chicago and San Diego.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201c<\/span><span style=\"font-weight: 400;\">Late summer\u2014especially this one when the housing market favors buyers in most places\u2014offers the chance for people who are motivated to move this year to negotiate,&#8221; <\/span><a href=\"https:\/\/www.redfin.com\/news\/author\/chen-zhao\/\"><span style=\"font-weight: 400;\">Chen Zhao<\/span><\/a><span style=\"font-weight: 400;\">, Redfin\u2019s Head of Economics Research, said. \u201cBuyers should use this time to explore the market more seriously, while sellers should consider what they\u2019re willing to sacrifice to make a deal happen.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some sellers in these metro areas have found <\/span><a href=\"https:\/\/www.redfin.com\/news\/home-search-in-2026\/\"><span style=\"font-weight: 400;\">Redfin Early Access<\/span><\/a><span style=\"font-weight: 400;\">, which allows them to start marketing their home as \u201ccoming soon\u201d before its official market debut, helpful in determining the right price, especially for unique homes for which there aren\u2019t many comparable recent sales.<\/span><\/p>\n<h3><b>Austin: Buyers Benefit From More Choices<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.redfin.com\/city\/30818\/TX\/Austin\/housing-market\"><span style=\"font-weight: 400;\">Austin now favors buyers<\/span><\/a><span style=\"font-weight: 400;\"> after years of rapid homebuilding and easing migration into the region.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAustin used to be a very seasonal market, but since the COVID-19 homebuying boom, it\u2019s been much harder to predict where the market is headed,\u201d <\/span><a href=\"https:\/\/davidlovemoxham.com\/\"><span style=\"font-weight: 400;\">David Love-Moxham<\/span><\/a><span style=\"font-weight: 400;\">, Redfin Premier agent in Austin, said. \u201cIt\u2019s been an okay summer for buyers and sellers because sales have been steady, but nowhere near the pace Austin experienced in previous years.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If buyers think a home is overpriced, they\u2019ll simply move on because there are plenty of other options in the same neighborhood, David added.\u00a0<\/span><\/p>\n<h3><b>Chicago: Discounts and Concessions Are Holding Deals Together<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Chicago&#8217;s summer housing market has slowed compared with previous years, but demand is strong in neighborhoods like Evanston and Lincoln Park.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.danielclose.com\/\"><span style=\"font-weight: 400;\">Daniel Close,<\/span><\/a><span style=\"font-weight: 400;\"> Redfin Principal agent in Chicago, said today\u2019s buyers generally fall into three groups: people who need to move because of life circumstances, people who have been searching since spring and early planners preparing to buy in 2027.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cChicago is a market dominated by groups that are less likely to buy, so demand is softer, but homes are still selling,\u201d he added. &#8220;It\u2019s a balanced market and perhaps slightly a seller\u2019s market because if a home is desirable, well-priced and well-marketed, it\u2019s going to get multiple offers.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In one recent transaction that\u2019s still pending, Daniel negotiated $25,000 off the asking price of a 3-bedroom bungalow in Norwood Park, a very desirable and quiet neighborhood on the northwest side of Chicago.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Daniel was able to keep a deal together by advising that the condo seller he was representing offer concessions to the buyer, in the form of a brand new dishwasher and making several other repairs before closing.<\/span><\/p>\n<figure id=\"attachment_86733\" aria-describedby=\"caption-attachment-86733\" style=\"width: 1952px\" class=\"wp-caption alignnone\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-86733\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2026\/08\/pedro-lastra-Nyvq2juw4_o-unsplash-scaled.jpg\" alt=\"\" width=\"1952\" height=\"1200\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2026\/08\/pedro-lastra-Nyvq2juw4_o-unsplash-scaled.jpg 1952w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2026\/08\/pedro-lastra-Nyvq2juw4_o-unsplash-300x185.jpg 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2026\/08\/pedro-lastra-Nyvq2juw4_o-unsplash-1024x630.jpg 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2026\/08\/pedro-lastra-Nyvq2juw4_o-unsplash-768x472.jpg 768w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2026\/08\/pedro-lastra-Nyvq2juw4_o-unsplash-1536x945.jpg 1536w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2026\/08\/pedro-lastra-Nyvq2juw4_o-unsplash-2048x1260.jpg 1950w\" sizes=\"(max-width: 1952px) 100vw, 1952px\" \/><figcaption id=\"caption-attachment-86733\" class=\"wp-caption-text\"><strong>Chicago, IL<\/strong><\/figcaption><\/figure>\n<h3><b>Nashville: Buyers Gain the Upper Hand, Take Their Time<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe market tends to slow down as we head into August because people are wrapping up their summer vacations and getting their kids ready for school. It\u2019s not abnormal to see a little bit of a slowdown,\u201d <\/span><a href=\"https:\/\/kristinsanchezhomes.com\/\"><span style=\"font-weight: 400;\">Kristin Sanchez<\/span><\/a><span style=\"font-weight: 400;\">, Redfin Principal agent in Nashville, said.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cBut this summer feels even slower; buyers are taking their time because they know they have the upper hand,\u201d she added. \u201cBuyers who are ready to make a move can often get a good deal because sellers are willing to negotiate.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kristin recently helped first-time buyers seal a deal for $345,000<\/span><span style=\"font-weight: 400;\">\u2014<\/span><span style=\"font-weight: 400;\">$15,000 below the appraised value<\/span><span style=\"font-weight: 400;\">\u2014<\/span><span style=\"font-weight: 400;\">with the seller covering closing costs and repairs on a 3-bedroom house in Brush Creek, about 25 miles north of downtown.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the higher end, Kristin also recently helped transplants from San Diego negotiate\u00a0 $60,000 off the $1.15 million list price on this <\/span><a href=\"https:\/\/www.redfin.com\/TN\/Brentwood\/8136-Moores-Ln-37027\/home\/87894856\"><span style=\"font-weight: 400;\">4-bedroom, 3-bathroom house<\/span><\/a><span style=\"font-weight: 400;\"> in the coveted Brenthaven community of Brentwood, which is just under 20 minutes away from downtown Nashville.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;A couple of years ago, these buyers likely would have competed against multiple offers with little negotiating power,&#8221; she said.<\/span><\/p>\n<h3><b>San Diego: Two Markets in One <\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Back in San Diego, the housing market is mixed, with move-in-ready single-family homes in short supply, while condos are staying on the market and prices are drifting down, <\/span><a href=\"https:\/\/johncopelandhomes.com\/\"><span style=\"font-weight: 400;\">John Copeland<\/span><\/a><span style=\"font-weight: 400;\">, Redfin Premier agent, said.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even with <\/span><a href=\"https:\/\/www.redfin.com\/news\/kevin-warsh-fed-meeting-july-2026\/\"><span style=\"font-weight: 400;\">mortgage rates high<\/span><\/a><span style=\"font-weight: 400;\">, homes in desirable coastal neighborhoods continue to sell quickly when priced appropriately.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">John helped a buyer find a <\/span><a href=\"https:\/\/www.redfin.com\/CA\/San-Diego\/6002-Fenimore-Way-92120\/home\/5433893?600390594=copy_variant&amp;utm_source=ios_share&amp;utm_medium=share&amp;utm_nooverride=1&amp;utm_content=link&amp;utm_campaign=share_sheet\"><span style=\"font-weight: 400;\">3-bedroom 1,760 square feet house<\/span><\/a><span style=\"font-weight: 400;\"> listed for just under $1.1 million in the highly sought-after Grantville community in San Diego\u2019s Del Cerro neighborhood.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe home was flipped, move-in ready and my clients fell in love with it. There were multiple offers, but we were able to outbid them without actually escalating much above the asking price and still negotiated repairs,\u201d he said.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the selling side, John helped his client sell a 2-bedroom house in Lakeside for $10,000 over the $775,000 asking price after less than two weeks on the market. As part of the deal, the seller agreed to deferred maintenance, meaning they would pay for plumbing updates and termite work at a later date.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Homebuyers have more choices and more time to make decisions as the market has slowed this summer and sellers are increasingly adjusting their expectations to match, according to Redfin agents. Well-priced, move-in-ready homes are still selling quickly, showing that buyer demand is strong for desirable properties. The U.S. housing market has settled into a slower [&hellip;]<\/p>\n","protected":false},"author":13584,"featured_media":86735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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