U.S. Housing Market Shows Diverging Trends in May 2026

In May 2026, Hawaii’s Oahu market reported an 8.5% year‑over‑year rise in single‑family home sales, reaching 255 transactions, while condo sales fell 9.4% to 339 closings. The median price for single‑family homes slipped 0.8% to $1,166,000 and the median days on market fell to 13 days. The Hawaiʻi Housing Finance and Development Corporation highlighted its Hale Kama‘āina Mortgage Program, noting the first three homeowners—including teacher Ashley Maeshiro—who secured below‑market mortgage rates and down‑payment assistance.

Across the United States, foreclosure activity rose 14% year‑over‑year, with 40,355 properties under filing in May. Foreclosure starts increased 13% to 27,304, and completed foreclosures grew 6% to 4,092. Florida recorded the highest state foreclosure rate, while Texas led both in starts (3,590) and REO inventory (519). Major metros such as Cleveland and Baltimore showed the highest filing rates per housing unit. Analysts linked the uptick to elevated mortgage rates and ongoing affordability pressures, though overall levels remain well below historic peaks.