08/28/2026
July brought a tale of two trends for homebuyers.
The housing market delivered some encouraging news. The median nationwide home price fell 2.4% from a year earlier (the ninth consecutive month of year-over-year declines). Price per square foot also fell in 34 of the 50 largest metros, while the number of homes actively for sale grew 2.1% from the previous July.
Mortgage rates, however, moved in the opposite direction. Fallout from the war in the Middle East helped push up average mortgage rates to over a 1-year high. Thankfully, if that conflict cools, rates are likely to fall again, and homeowners who bought at today's rates may have the opportunity to refinance to lower rates and payments.
The bottom line: Homebuyers in many markets have more options and negotiating power than they did a few years ago, even as borrowing costs remain challenging.
Thinking about taking advantage of today's more buyer-friendly housing market? Contact me today to schedule a complimentary homebuying consultation!