Author: Mark McGowan

We’re seeing an interesting dynamic unfold in the US housing market: while home prices have continued climbing on paper through Q2 2026, the story changes when we look at real value. One key federal index stayed flat month-over-month from mid- to late Q2 (after seasonal adjustment), and the national index showed annual appreciation of about 1.5% in late Q2—up slightly from 1% in mid Q2, but still nearly 2 percentage points behind inflation, which hovered around 3.5%.

This means that, after adjusting for inflation, home values have actually declined for 13 consecutive months. The pace of this real-value erosion has slowed thanks to lower inflation and stronger nominal price gains, but the trend has persisted. Even so, one federally tracked measure has recorded positive annual appreciation every quarter since early 2012, underscoring how resilient nominal home prices have been—even when the real value faces pressure.

The big takeaway as we enter the second half of the year: affordability is still the central challenge. Typical monthly payments on existing single-family homes have risen again this quarter, making it especially tough for first-time buyers.

As someone who’s worked across Fortune 100 leadership, entrepreneurship, and hands-on real estate, I focus on giving you the context behind the numbers. Understanding the market’s realities—both the opportunities and the headwinds—empowers you to make smart, informed decisions. That’s why my approach centers on putting your needs first and bringing you timely, real-world insights you can trust.

We’re seeing a notable shift in the market: new listings in the US have ticked up by 0.4%, and total homes for sale have increased by 0.5%—both reaching their highest marks since late Q1 and mid Q2. At the same time, pending home sales have dipped 1.1%, now at a six-month low as buyers grapple with median home prices above $400K nationwide. Financing costs remain in the mid-6% range, just below recent peaks. Understandably, some buyers are pausing—waiting out economic uncertainty or hoping for lower rates.

What does this mean for you? With more inventory and softer demand, active buyers may find more negotiating leverage: think price reductions, concessions, rate buydowns, or opportunities for repairs on homes that have been on the market longer. There’s a window right now, before late Q3 activity may pick up, where strategic buyers and sellers can benefit—especially if sellers price their home correctly from the start.

Having led teams at the Fortune 100 level and now working on Redfin’s high-volume, tech-driven platform, I see firsthand how quickly market dynamics can shift. My goal is to keep you ahead with insights that empower you to make confident, informed real estate decisions—every step of the way.

Labor Day in the United States celebrates the contributions of workers everywhere, while also unofficially marking the final big summer weekend before fall takes over.
It’s known for backyard barbecues, road trips, and that classic tradition of buying things you didn’t know you needed because “it’s on sale.”
Beaches, parks, and grills reach peak activity as everyone tries to squeeze every last drop of summer fun out of the long weekend.
Happy Labor Day! Wishing you a fun, easygoing weekend filled with good vibes, great food, and absolutely no thoughts about Monday.

Mortgage rates are now expected to remain elevated into 2027, meaning financing costs could continue influencing buyer decisions.
A slower decline in rates could keep demand below historical norms even if economic conditions improve.
Buyers may increasingly focus on rate buydowns, adjustable products, and other financing strategies to manage borrowing costs.
Home-price growth could remain moderate as high financing costs limit how aggressively buyers can bid.

In the current market, homeownership costs extend beyond mortgages, insurance, maintenance, and taxes, with HOA assessments becoming a key expense buyers should review carefully.
For homes in managed communities, aging infrastructure and higher insurance costs have been pushing assessments upward, making association budgets and reserve planning more important.
Experts said boards need to maintain assessments and raise them consistently so communities can keep pace with ongoing expenses and stay financially viable.
Before buying, shoppers should ask about monthly fees, whether reserve funds exist, and if those reserves can cover major capital expenses adequately.
Condo buyers especially should learn whether properties face issues that may require special assessments in coming years, since board transparency can ease community concerns.

Hybrid work has reshaped US offices, pushing investors to consider conversions, specialized spaces, flexible models, and hands-on repositioning instead of passive, traditional leasing.
Office-to-residential reuse is a leading path where transit and amenities already exist, though deep floor plates, plumbing, HVAC, and design hurdles require due diligence.
The strongest demand is concentrating in premium and niche properties, including medical offices, labs, and amenity-rich workplaces, while flexible space models offer shorter-term agility.
Distressed sales may expand as lenders grow cautious, so investors need strong business plans, alternative capital sources, and clear strategies to stabilize or repurpose assets.
Winning approaches depend on hyper-local insight, sustainability upgrades, smart-building tools, and public incentives, with experts expecting a multi-yr rebalancing rather than a quick reset.