With housing costs and mortgage rates elevated and economic uncertainty weighing on buyers, would-be homebuyers are “sitting on the sidelines,” Redfin said Thursday. Pending home sales fell 1.1% from a week earlier to their lowest level in six months.

The slowdown comes as new listings rose 0.4% from a week earlier to their highest level since April.

With more homes coming onto the market and fewer buyers taking the plunge, Redfin says house hunters have more room to negotiate prices and ask for seller concessions.

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“Buyers have an opportunity to get a deal done before the market potentially picks back up after Labor Day,” said Chen Zhao, Redfin’s head of economics research.

Zhao recommended that house hunters consider homes that have been listed for several weeks, since those sellers “may be willing to accept an offer under asking price, provide concessions like a mortgage-rate buydown or make repairs based on an inspection.”

Sellers, meanwhile, should not base their asking price on what a neighbor received a year or two ago, Zhao said.

“Pricing a home correctly from the start can be the difference between attracting a serious buyer and lingering on the market,” she added.

Housing costs remain elevated. The median home sales price rose 1.9% year over year to more than $400,000 for the four weeks ending Aug. 23, while weekly average mortgage rates are near their highest levels in 13 months.

Redfin described much of the country as a “big-time buyer’s market,” with buyers potentially able to negotiate prices or secure concessions in markets led by Miami, Nashville, Tenn., and much of Texas.

Another Redfin analysis identified late August or early September as prime times for buyers to find deals in 11 U.S. metro areas, including much of California, Seattle and two New York City suburbs.