As the summer homebuying season begins to wind down, buyers in several major U.S. markets are entering a period when negotiating power may be at its strongest.

New analysis from Redfin shows that discounts from a home's original asking price—through price reductions or negotiations between buyers and sellers—typically become larger in late summer and early fall. The timing varies by location, but for buyers who have been waiting for an opportunity to negotiate, the final weeks of August and the beginning of September could provide an important window.

In late August, Austin, Portland and San Jose are among the markets where buyers have the greatest opportunity to negotiate. Several other California markets, including Anaheim, Oakland and Sacramento, are also entering their prime dealmaking period. In early September, Atlanta, Denver and Seattle are expected to become more favorable for buyers looking for discounts.

The reason is largely seasonal. Sellers who put their homes on the market during the spring or early summer and have not yet found a buyer may become increasingly willing to adjust their expectations as the year progresses. Rather than carrying a listing into the slower fall and winter months, some homeowners may choose to reduce the asking price, offer concessions or negotiate other terms to get a transaction completed.

The shift is particularly important because today's housing market is already giving buyers more time and choices than they had during the pandemic-era housing boom. Higher mortgage rates have slowed demand, while increased inventory has reduced the urgency that once forced buyers into bidding wars.

In many markets, buyers can now take a closer look at several properties instead of feeling pressured to make an immediate offer. That creates an opportunity to negotiate not only on the purchase price but also on closing costs, repairs, inspection issues and mortgage-rate buydowns.

Austin is a particularly strong example. The market has moved toward buyers after years of rapid construction and strong pandemic-era demand. With more homes competing for buyers' attention, an overpriced property can simply be passed over in favor of another listing.

Texas is also expected to offer additional opportunities as September approaches. Dallas, Fort Worth and San Antonio are among the markets where the prime dealmaking period is expected around mid-September, while Houston is expected to reach its strongest negotiating window in late September.

Other major markets have their own seasonal patterns. Baltimore, Jacksonville, Los Angeles, Nashville and San Diego are expected to see stronger negotiating opportunities around mid-September, while Las Vegas, San Francisco and Washington, D.C. are expected to reach their best period later in the month.

However, buyers should not assume that every home will suddenly become a bargain. Well-priced, move-in-ready properties can still attract strong competition, particularly in neighborhoods where inventory remains limited. Redfin's housing analysis emphasizes that buyers need to balance negotiating power with selection: waiting too long may produce larger discounts, but it can also reduce the number of desirable homes available.

The regional differences are becoming increasingly important as the national housing market continues to split into very different local markets. Some cities are clearly favoring buyers, while others remain competitive despite higher mortgage rates.

That means the end of summer could be especially valuable for buyers who are prepared to act. A motivated seller may be more willing to negotiate now than they were several months ago, particularly if a home has been sitting on the market since the spring.

For buyers who have already been priced out of the market, these conditions could create an opportunity to purchase a home that might have been financially out of reach two years ago. Seller concessions or a mortgage-rate buydown can also reduce the effective cost of ownership without requiring the seller to make a dramatic headline price reduction.

Still, affordability remains the central challenge. Mortgage rates are continuing to run in the mid-to-upper 6% range, meaning even a negotiated discount may not completely solve the problem of high monthly payments. Buyers also need to consider property taxes, insurance, maintenance and other ownership costs before deciding whether a deal truly fits their budget.

The changing balance of power does, however, represent a meaningful shift from the housing market of just a few years ago. Buyers increasingly have the ability to walk away, compare multiple homes and negotiate rather than simply accept a seller's terms.

As August comes to an end and September begins, that negotiating power could become even more valuable in markets where inventory remains elevated and sellers are eager to close before the fall slowdown.

For today's buyers, the message is clear: you may not need to wait for mortgage rates or national home prices to fall dramatically to get a better deal. In the right market, timing and negotiation could provide an advantage right now.