Compared to one year ago, national median sales prices for houses and condos/co-ops in June rose 2% and .8% respectively. The number of active listings dropped slightly from May, but increased 16% year over year, and months-supply-of-inventory-a comparison of demand vs. supply, with higher readings signifying cooler markets-rose to its highest reading in 6+ years.
Sales volume climbed very slightly month over month but was 4% higher than a year ago: It was the first monthly, year-over-year increase in existing-home sales since January 2025.
Let’s take a look at national inventory levels as an example…
Months-supply-of-inventory (MSI) is a measurement of buyer demand vs. the supply of homes available to purchase: The higher the reading, the softer the market. MSI for all homes hit its highest reading in over 6 years (ie: supply outpacing demand), therefore tilting the market to buyers’ advantage.
What does this mean for sellers?
With the year-over-year number of listings soaring and the number of sales declining, price reductions reached their highest monthly count since 2019. Correct pricing, preparation and marketing are always important, but in softening markets, becomes an imperative for sellers.
What does this mean for buyers?
More affluent buyers are playing a larger role in the market, and have been for the last few years. They have been most positively affected by soaring stock markets and home price appreciation, and typically less affected by interest rates as they are more likely to be able to pay all cash. Other households, especially younger households, have been more likely to experience financial stress, particularly associated with rising debt exacerbated by higher interest rates.
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Whether you’re buying, selling, or even considering a meaningful move in 2026 or beyond, schedule a complimentary consultation with Mike to understand what to expect as the market continues to shift!