[REVISION HISTORY]
North American housing market 2026 – Late July
Updated 1 time since CLSTR started tracking revisions of this situation.
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2026-07-25 21:46 UTC → 2026-07-27 04:55 UTC ·
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North American housing market 2026 – Late July update
The National Association of Realtors reported a record median existing‑home price of $440,600 in June, the 36th month of gains. Existing‑home sales slipped 2.4 % to an annualized 4.09 million units and 30‑year fixed mortgage rates hovered near 6.5 %. Inventory stayed tight at roughly 1.56 million homes (≈4.6‑month supply), leaving a shortfall of about 1.2 million entry‑level units and keeping the affordability index marginally lower. Regional U.S. data were mixed: remained mixed – Maine’s median price rose to $436,000 with a 7.3 % sales increase, while Maui posted a 16.4 % YoY jump in single‑family resales. Pending sales fell 5.4 % as rates hit their highest in a year. Nationwide median home price was $372,057. California metros led price growth, with Zillow medians of $2.84 million in San Marino, $2.88 million in Menlo Park and $3.03 above $2.8 million in Laguna Beach, reflecting 5‑7 % one‑year gains. Governor Gavin Newsom proposed an auto‑allocation committee for affordable‑housing funds. A viral video of a Southern‑California two‑bedroom unit renting for $2,930 per month sparked outcry. Home‑owner advice stressed detailed budgeting for mortgage, taxes, insurance and maintenance. several affluent cities. In Canada, national home sales edged up 0.5 % to an average $696,078; CREA trimmed its 2026 sales forecast by 1.4 % and expects a 1.1 % price rise. Housing starts fell 2.8 % to a seasonally adjusted annual rate of 248,123 units, a 13 % YoY decline, with Montreal the only major market posting growth. New‑home data showed a modest rebound in June: sales rose 1.6 % to a 628,000‑unit annual rate despite mortgage rates near 6.5‑6.6 %. Median new‑home price fell to $398,300, down 2.7 % YoY, while homes under $300,000 accounted for 23 % of sales. Late‑July data show the average 30‑year fixed mortgage rate climbing to 6.6‑6.7 % – the highest level in roughly eleven months – and the 15‑year rate reaching 5.96 %. Despite the rate rise, new single‑family home sales in June edged up 1.6 % to a 628,000‑unit annual rate, though still 5.6 % below a year earlier. Experts warned the sustained rate increase deepens the affordability crisis for first‑time buyers and projected overall home prices may fall about 1.2 % this year after a seven‑year surge.
Versions
- 2026-07-27 04:55 UTC North American housing market 2026 – Late July
- 2026-07-25 21:46 UTC North American housing market 2026 – July update
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