With over 35 years as a full-time real estate broker, I’ve witnessed the impact of changing mortgage rates on the market firsthand. This August, we saw home sales dip by 0.6% compared to last year, as mortgage rates climbed above 6.5%. Pending listings were also down 2.6%. At the same time, home values edged up 1.3%, reaching $369,678, and inventory grew by 3%. Rents increased 2.5%, making renting a relatively more affordable option at the moment. I continue to monitor these shifts closely to help clients make informed decisions as the market evolves.