Tag Archives: housing market

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National Housing Snapshot for July 2026


Total Existing-Home Sales for July
• 1.7% decrease in existing-home sales1 month-over-month.
• 0.7% increase year-over-year to a seasonally adjusted annual rate of 4.06 million.
 
Inventory in July
• 1.54 million units: Total housing inventory2, down 1.9% from June and down 0.6% from July 2025.
• 4.6-month supply of unsold inventory, unchanged from last month and one year ago.
 
Median Sales Price in July
• $434,100: Median existing-home price3 for all housing types.
• 2.0% increase from one year ago ($425,700), marking the 37th consecutive month of year-over-year price increases.

Read more details, including regional data, here…

Source: National Association of REALTORS® 8/11/26

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Washington State NWMLS Market Update for July 2026


In summary, compared to July 2025, the July 2026 stats show:

  • Active listings increased 19.8%
  • Closed sales decreased 3.2%
  • Pending sales declined 7.2%
  • The median sales price decreased 1.5%
  • Keybox activity and scheduled showings were lower

Steven Bourassa, Director of the Washington Center for Real Estate Research: “Interest rates, which averaged over 6.5% during the month (slightly higher than the previous month), continued to discourage buyers. The Federal Reserve Bank’s Federal Open Market Committee (FOMC) kept short-term interest rates unchanged when they met late in the month due to the ongoing pressures of high inflation stemming from the continuing war with Iran. Expectations are that the FOMC will increase short-term rates later this year and early next year, implying that longer-term rates are also likely to go up.”

Source: NWMLS 8/4/26

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National Housing Snapshot for June 2026


Existing-home sales decreased by 2.4% month-over-month and increased 2.8% year-over-year, according to the National Association of REALTORS® Existing-Home Sales report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales, price, and inventory.

Month-over-month sales increased in the Northeast, and declined in the Midwest, South and West. Year-over-year sales rose in the Midwest, South and West and were flat in the Northeast.

“The back-and-forth in monthly home sales activity, driven by mild fluctuations in mortgage rates, shows how sensitive home buyers are to affordability conditions,” said NAR Chief Economist Lawrence Yun. “However, job gains—more than half a million since the beginning of the year—will continue to provide support for the housing market.”

“The median home price has reached an all-time high. Even so, affordability is better than a year ago because wage growth is outpacing home price growth,” Yun continued. “However, progress on long-term housing affordability could be hampered if inventory growth continues to stall. Without consistent gains in inventory, home prices can accelerate. It is critical to introduce more supply to the market to widen the opportunity for homeownership.”

Read more details, including regional data, here…

Source: National Association of REALTORS® 7/9/26

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Washington State NWMLS Market Update for June 2026


Housing inventory continued to expand across the NWMLS service area in June, giving buyers the greatest selection of homes this year. Active listings increased 16.4% year over year and 8.0% from May, reaching 23,088 homes on the market. Buyers had access to more than 1,700 additional homes than the previous month, continuing the market’s gradual shift toward more balanced conditions.

  • Inventory continues to grow, with active listings up 16.4% year over year and buyers gaining access to 1,700+ more homes than in May.
  • Buyers are still active, with closed sales increasing 2.3% from last year.
  • The market is becoming more balanced, with almost 3.4 months of inventory.
  • Median home prices held steady from May at $650,000.

Source: NWMLS 7/2/26

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National Housing Snapshot for May 2026


Existing-home sales increased by 3.2% month-over-month and year-over-year, according to the National Association of REALTORS® Existing-Home Sales report.

Month-over-month sales increased in the Northeast, Midwest and South, and were unchanged in the West. Year-over-year sales rose in the Midwest, South, and West, and fell in the Northeast.

Total Existing-Home Sales for May

  • 3.2% increase in existing-home sales month-over-month.
  • 3.2% increase in existing-home sales year-over-year to a seasonally adjusted annual rate of 4.17 million.

Inventory in May

  • 1.55 million units: Total housing inventory, up 3.3% from April and up 0.6% from May 2025.
  • 4.5-month supply of unsold inventory, no change from last month and down slightly from 4.6 months one year ago.

Median Sales Price in May

  • 1.3% increase from one year ago ($423,700)—the 35th consecutive month of year-over-year price increases.
  • $429,300: Median existing-home price for all housing types

Read more details, including regional data, here…

Source: National Association of REALTORS® 6/9/26

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Washington State NWMLS Market Update for May 2026


Housing inventory continued to expand across the NWMLS service area in May, giving buyers more choices as the market moved into the summer season. Active listings increased 16.8% year over year and 15.2% from April, reaching 21,381 homes on the market — the highest inventory level recorded so far in 2026. Buyers had access to nearly 2,800 more homes than the previous month, while months of inventory increased to 3.44 months, continuing a gradual shift toward a more balanced market.

Despite ongoing affordability challenges, buyer activity remained steady. Pending sales increased 7.7% from April and closed sales rose 9.5% month over month, reflecting continued market activity as the spring buying season transitioned into summer. Home prices remained remarkably stable despite growing inventory, with the median sales price holding at $650,000 for the second consecutive month and declining less than 1% compared to May 2025.

While inventory levels continued to grow, elevated mortgage rates remained a key factor influencing buyer demand and affordability.

Key Takeaways

Active Listings

  • The total number of properties listed for sale increased 16.8% year over year, with 21,381 active listings on the market at the end of May 2026, compared to 18,310 at the end of May 2025. Month over month, active inventory increased 15.2%, up from 18,563 in April 2026.

Pending and Closed Sales

  • There were 8,168 residential and condominium units under contract in May 2026, a slight decrease of 1.0% compared to May 2025 (8,249). Pending sales increased 7.7% from April 2026, when 7,584 listings were under contract.
  • Closed sales decreased 3.9% year over year, with 6,213 transactions in May 2026 compared to 6,467 in May 2025. Month over month, sales increased 9.5%, up from 5,674 in April 2026.

Median Sales Price

  • The median sales price for residential homes and condominiums sold in May 2026 was $650,000, down 0.8% from May 2025 ($654,995) and unchanged from April 2026.

Source: NWMLS 6/3/26

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National Housing Snapshot for April 2026


Existing-home sales increased by 0.2% in April 2026. Month-over-month sales increased in the Midwest and South, were unchanged in the Northeast and declined in the West. On a year-over-year basis, sales rose in the South, were flat in the West, and fell in both the Northeast and Midwest.

“Despite mixed macroeconomic signals—including a record-high stock market and historically low consumer confidence—home sales were modestly boosted by the continued improvement in housing affordability,” said NAR Chief Economist Dr. Lawrence Yun. “Mortgage rates are lower from a year ago, and average income growth is outpacing home price gains.”

Yun continued, “Inventory still remains tight. Multiple offers, though not as intense as a few years ago, are still occurring. At the same time, days on market are lengthening on average, implying that consumers are taking their time before making decisions.”

Month-Over-Month

  • 0.2% increase in existing-home sales—seasonally adjusted annual rate of 4.02 million in April
  • 5.8% increase in unsold inventory—1.47 million units equal to 4.4 months’ supply

Year-Over-Year

  • No change in existing-home sales
  • 0.9% increase in median existing-home sales price to $417,700

Read more details, including regional data, here…

Source: National Association of REALTORS® 5/11/26

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Washington State NWMLS Market Update for April 2026


Market Recap

Housing supply continued to expand across the NWMLS service area in April, with active listings rising 28.4% year over year and increasing more than 23% from March as the spring market gained momentum. While inventory expanded, market activity remained mixed: closed sales declined 3.7% year over year, even as showings and keybox accesses increased from both March and April 2025. The median sales price remained unchanged from a year ago at $650,000, reflecting a market with more choices for buyers but continued affordability constraints.

Mortgage rates remained elevated in April, with average rates slightly higher than in March, and the Federal Reserve held short-term rates steady, citing ongoing inflation pressures, including rising energy costs. Ongoing global uncertainty, including the war in Iran, continued to put upward pressure on interest rates and weigh on housing demand.

Steven Bourassa, director of the Washington Center for Real Estate Research at the University of Washington, said, “We are continuing to see relatively weak demand in the NWMLS market area (as elsewhere in the U.S.), with listings substantially higher than a year earlier, transactions down almost 4%, and median prices unchanged. At the moment, it is difficult to see any improvement on the horizon with the Iran war stuck in a stalemate.”

Key Takeaways

Active Listings

  • The total number of properties listed for sale increased 28.4% year over year, with 18,563 active listings on the market at the end of April 2026, compared to 14,459 at the end of April 2025. Month over month, active inventory increased by 23.4%, up from 15,049 in March 2026.

Closed Sales

  • Closed sales decreased by 3.7% year over year, with 5,674 transactions in April 2026 compared to 5,887 in April 2025. Month over month, sales increased by 4.7%, up from 5,417 in March 2026.

Median Sales Price

  • The median sales price for residential homes and condominiums sold in April 2026 was $650,000, showing no change from April 2025 ($650,000). Month over month, the median price increased 1.6% from $640,000 in March 2026.
  • The counties with the highest median sales prices were San Juan ($1,225,000), King ($859,000), and Snohomish ($750,000), while the lowest median prices were recorded in Ferry ($250,000), Adams ($290,000), and Columbia ($322,000). 

Source: NWMLS 5/5/26

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Outlook for Existing-Home Sales


With sales of existing single-family houses and condos sputtering in the first three months of the year, experts now expect a modest improvement in the housing market for the remainder of 2026 rather than a robust one. The National Association of Realtors cut its 2026 forecast for existing‑home purchases from a 14% jump to a 4% rise after sales fell in March.

Read more…

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National Housing Snapshot for March 2026


Existing-home sales decreased by 3.6% month-over-month in March, according to the National Association of REALTORS® Existing-Home Sales Report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales, price, and inventory.

“March home sales remained sluggish and below last year’s pace,” said NAR Chief Economist Dr. Lawrence Yun. “Lower consumer confidence and softer job growth continue to hold back buyers.”

Month-over-month sales fell in all four regions. Year-over-year sales rose in the South and West and fell in the Northeast and Midwest.

“Inventory remains a major constraint on the market,” Yun said. “The inventory-to-sales ratio, or supply-to-demand ratio, is below historical norms. An additional 300,000 to 500,000 homes for sale would help bring the market closer to normal conditions and allow consumers to make purchase decisions without feeling rushed.”

“Because inventory remains limited, the median home price rose to a new record high for the month of March,” Yun added. “That price growth has helped the typical homeowner accumulate $128,100 in housing wealth over the past six years.”

NAR also revised its 2026 housing forecast. Due to the upward trajectory of mortgage rates, NAR now expects existing-home sales to increase 4% this year, down from the previous projection. New-home sales are now expected to remain flat, a downward revision from the prior forecast of a 5% gain. The median home price forecast remains unchanged, with prices still projected to rise 4% in 2026.

“Mortgage rates have been rising, and that has led us to trim our home sales outlook for the year,” said Yun. “Even with a more modest pace of sales growth, home prices continue to steadily increase due to minimal inventory growth.”

Read more details, including regional data, here…

Source: National Association of REALTORS® 4/13/26