July Home Sales Fell as Rates and Prices Kept Buyers Back
Existing-home sales fell 1.7% in July as mortgage rates near 6.7%, rising prices and limited inventory continued to pressure buyers nationwide.
Existing-home sales fell 1.7% in July as mortgage rates near 6.7%, rising prices and limited inventory continued to pressure buyers nationwide.
The average U.S. long-term mortgage rate rose for a fifth consecutive week by Aug. 7, reaching its highest level in just over a year as home prices remained elevated.
U.S. house prices rose 0.4% in August and 2.3% from a year earlier, while Fannie Mae reported $241 billion in housing-market funding during the first half of 2026.
The national average 30-year mortgage rate rose for a fourth straight week, while home prices continued to increase in May, adding pressure to buyers and refinancers.
June home sales fell as prices reached a record and mortgage rates rose to 6.66%, giving buyers more listings but leaving monthly borrowing costs high.
The national housing-affordability index fell to 102.3 in June, leaving median-income buyers a narrow cushion as prices and mortgage rates remain elevated.
June sales slowed as the median existing-home price hit a record, giving some buyers more negotiating room without easing monthly housing costs.
Sierra Nevada Realtors’ second-quarter report characterizes Carson City home prices as stabilizing, while Douglas County declined and Lyon County prices increased.
FHFA reports April 2026 U.S. home prices down 0.1% month-to-month but up 2.0% year over year, after a March revision.
United States Housing and Mortgage Market – FHFA said prices dipped in April, Freddie Mac put the 30-year rate at 6.43% on July 2, and May starts fell 15.4% from April.