After Years of Waiting, Buyers Are Getting Their Summer: Realtor.com® June Housing Report
List Prices Drop 2.5%, the Steepest Decline Since 2017, According to Realtor.com Data; Pending Sales Just Hit a Seven-Month Growth Streak
AUSTIN, Texas, July 1, 2026 /PRNewswire/ -- Asking prices fell 2.5% year over year in June, the steepest annual decline in Realtor.com® data since 2017, and the eighth consecutive month of price drops, according to the Realtor.com® June 2026 Monthly Housing Trends Report released today. Pending sales rose 3.7% year over year for the seventh straight month of growth, and for the first time in 26 months, homes spent no more time on market than they did a year earlier, a further indication buyers are showing up as the market rebalances.
"Eight straight months of falling prices and seven straight months of rising pending sales are not a contradiction. And they have to be considered together to get a full picture of what's happening in housing right now," said Danielle Hale, chief economist, Realtor.com®. "Sellers are reading market conditions and are pricing accordingly from the start rather than listing high and cutting later, and buyers are taking note and making bids. This is a welcome sign that we are in a functioning market."
The national median list price was $430,000 in June, essentially flat from May but down 2.5% from a year ago, a slightly steeper decline than May's drop of 2.4%. Price per square foot, which controls for changes in the size mix of homes on the market, fell 2.1% year over year. The share of listings with a price reduction came in at 18.8%, down 1.9 percentage points from a year ago even as it ticked up from May's 17.5%, the typical seasonal pattern as spring listings age into summer.
Metric | June 2026 | Change over May 2026 | Change over | Change over | Change over |
Median listing price | $430,000 | 0.1 % | -2.5 % | 34.4 % | -4.2 % |
Active listings | 1,102,615 | 4.1 % | 1.9 % | -9.6 % | 92.2 % |
New listings | 463,480 | -2.4 % | 2.4 % | -16.7 % | -13.1 % |
Median days on | 53 | 1 | 0 | 0 | 23 |
Price reductions | 18.8 % | 1.3 | -1.9 | 1.8 | 4.0 |
Median List Price | $228 | -0.1 % | -2.1 % | 49.7 % | 0.4 % |
Asking Prices Fall at a Record Pace Nationally — With Sharp Regional Divergence
The regional picture reveals two very different housing markets. Year-over-year median list price declines ranged from -4.0% in the West to -2.5% in the South and -1.0% in the Northeast, while the Midwest crossed back to flat (0.0%). When adjusting for home size, price per square foot rose in the Midwest (+1.5%) and = Northeast (+0.9%), while the South (-3.2%) and West (-1.6%) continued to decline.
A longer view tells a sharper story. National median list prices peaked at $449,000 in June 2022. Four years later, they are down 4.2% nationally — but the regional divergence is stark. Prices are down 7.3% in the West and 3.5% in the South since that peak, while the Midwest is up 10% and the Northeast is up 12.6%. Among the top 50 metros, prices since June 2022 are down in 28 and up in 22.
"The two Americas story in housing is now four years in the making," said Jake Krimmel, senior economist, Realtor.com®. "In the West and South, prices gave ground back as affordability limits were tested. In the Midwest and Northeast, supply stayed tight enough and demand strong enough that prices kept climbing even through a historic rate shock. The national number hides two opposing trends under the surface."
Turning back to year over year trends, the median list price per square foot is falling in 33 of the top 50 metro areas. The steepest per-square-foot declines were in Austin, Texas (-8.2%), Memphis, Tenn. (-6.0%), and Buffalo, N.Y. (-5.2%). On the other end, Providence, R.I. (+8.7%), Indianapolis (+4.9%), and New York (+3.4%) posted the largest gains, each notably in the Northeast or Midwest.
Buyers Keep Responding: Pending Sales Rise for a Seventh Straight Month
The stock of listings in pending status (also known as 'under contract') rose 3.7% year over year in June, extending the growth streak to seven consecutive months — the longest such run since December 2020 through June 2021. And there is no sign that rising pending sales are masking a wave of broken deals: contract cancellations in April and May came in at 6.9% of pending sales, modestly below the 7.3% rate a year ago. Taken together, the data pushes back on the concern that rising pending sales are masking a wave of deals falling apart. Homes are going under contract, and they are staying there.
New listings rose 2.4% year over year to 463,480, led by strong gains in the Northeast (+12.6%) and supported by modest growth in the Midwest (+1.0%), South (+1.0%) and West (+0.2%).
One concern entering summer was whether sellers would pull listings at the pace seen last year. That fear has not materialized. Delistings — homes pulled from the market without a sale — are now down nearly 10% year over year in June, and sit at roughly 5% of active listings, near their lowest share since last year's surge began.
Inventory Grows — But Still Well Below Pre-Pandemic Levels
Active inventory reached 1,102,615 in June, up 4.1% from May and 1.9% from a year ago. Year-over-year growth decelerated slightly from 2.2% last month, extending a gradual cooling trend that has been running since last spring. Nationwide inventory remains 11.3% below typical 2017–2019 levels, a slightly wider gap than the 10.4% shortfall recorded in May.
Inventory gains were led by the Northeast (+8.5% year over year) and Midwest (+7.3%), while the South (-0.1%) and West (+0.3%) remained nearly flat. Among the top 50 metros, 35 recorded year-over-year inventory growth. The sharpest increases were in Louisville, Ky. (+28.7%), Buffalo, N.Y. (+27.7%), and Seattle (+20.6%).
Time on Market Ends a 26-Month Streak — A Meaningful Milestone
The median home spent 53 days on the market in June, identical to the same month a year ago. That ended a streak of 26 consecutive months in which homes sold more slowly than the prior year — a notable milestone that suggests the market's deceleration has fully normalized. The median home is now spending the same amount of time on market as the pre-pandemic norm.
The regional picture varies, but not nearly as much as other metrics. Time on market is lower than a year ago in the Northeast (-2 days), where fresh inventory appears to be energizing transactions in historically tight markets. Days on market ticked up modestly in the Midwest (+3) and West (+2), and held flat in the South. At the metro level, time on market fell the most in Jacksonville, Fla. (-8 days) and Richmond, Va. (-6 days), while Boston, Memphis, and Oklahoma City each saw increases of six days.
Looking Ahead to July
"July is when the market traditionally takes its foot off the gas — spring listings age, buyer urgency fades, activity slows," said Krimmel. "June already shows the first signs of a slight seasonal slowdown: price cuts ticked up to 18.5% of current listings, and new listings were flat from last month even as they remained above last year. We'll be watching whether homes start sitting longer, whether price cuts accelerate beyond the usual summer ramp up, and whether new listings genuinely pull back or just flatten out. So far, the leading indicators are holding, so we do not expect the market to stall out like it did last summer."
June 2026 Regional and Metro Housing Overview
Region | Active | New Listing | Median List | Median List | Median List | Median Days | Price | Price |
Northeast | 8.5 % | 12.6 % | $554,500 | -1.0 % | 0.9 % | -2 | 12.5 % | -0.2 |
Midwest | 7.3 % | 1.0 % | $329,900 | 0.0 % | 1.5 % | 3 | 16.5 % | -0.2 |
South | -0.1 % | 0.4 % | $389,000 | -2.5 % | -3.2 % | 0 | 20.7 % | -2.2 |
West | 0.3 % | -0.8 % | $600,000 | -4.0 % | -1.6 % | 2 | 20.4 % | -2.8 |
National | 1.9 % | 2.4 % | $430,000 | -2.5 % | -2.1 % | 0 | 18.8 % | -1.9 |
Metro | Active | New Listing | Median | Median List | Median List | Median | Price | Price |
Atlanta-Sandy Springs-Roswell, GA | 1.9 % | -2.6 % | $429,000 | 1.9 % | 0.0 % | 1 | 22.9 % | -3.3 |
Austin-Round Rock-San Marcos, TX | -5.0 % | 0.3 % | $473,500 | -9.8 % | -8.2 % | 5 | 27.6 % | -5.0 |
Baltimore-Columbia-Towson, MD | 15.1 % | 8.6 % | $384,750 | -3.8 % | -1.4 % | 4 | 17.6 % | 0.2 |
Birmingham, AL | 7.0 % | 4.1 % | $300,000 | -3.2 % | -1.4 % | 1 | 18.8 % | 0.3 |
Boston-Cambridge-Newton, MA-NH | 13.6 % | 4.8 % | $825,000 | -3.5 % | -0.2 % | 6 | 14.6 % | -4.1 |
Buffalo-Cheektowaga, NY | 27.7 % | 12.3 % | $272,500 | -9.1 % | -5.2 % | -1 | 9.6 % | 0.5 |
Charlotte-Concord-Gastonia, NC-SC | 16.4 % | 6.0 % | $440,000 | -3.2 % | -1.6 % | 3 | 23.5 % | -2.5 |
Chicago-Naperville-Elgin, IL-IN | -7.8 % | -11.8 % | $394,500 | 3.8 % | 1.8 % | -1 | 12.7 % | -0.6 |
Cincinnati, OH-KY-IN | 18.9 % | 4.7 % | $354,900 | 0.0 % | -0.1 % | 5 | 17.2 % | 1.4 |
Cleveland, OH | 3.8 % | 2.8 % | $277,000 | 0.0 % | 3.3 % | 2 | 16.2 % | 0.8 |
Columbus, OH | 8.5 % | 0.3 % | $394,500 | 1.2 % | 1.1 % | 3 | 24.1 % | 0.1 |
Dallas-Fort Worth-Arlington, TX | -4.4 % | -6.5 % | $439,990 | 0.0 % | -2.0 % | 1 | 26.8 % | -3.7 |
Denver-Aurora-Centennial, CO | -4.9 % | -1.4 % | $589,000 | -3.4 % | -3.5 % | 3 | 29.0 % | -4.6 |
Detroit-Warren-Dearborn, MI | 14.3 % | 3.6 % | $275,000 | -1.8 % | 0.0 % | 3 | 15.9 % | 0.6 |
Hartford-West Hartford-East Hartford, | 1.5 % | -0.1 % | $480,000 | 3.5 % | 0.8 % | 1 | 7.1 % | -1.3 |
Houston-Pasadena-The Woodlands, TX | 1.4 % | -0.5 % | $362,265 | -3.4 % | -2.4 % | 4 | 20.1 % | -3.7 |
Indianapolis-Carmel-Greenwood, IN | 18.6 % | 9.0 % | $321,450 | -5.0 % | 4.9 % | 5 | 25.6 % | -1.1 |
Jacksonville, FL | -20.6 % | 1.1 % | $399,000 | -2.4 % | -2.5 % | -8 | 23.7 % | -6.5 |
Kansas City, MO-KS | -2.3 % | 1.2 % | $415,000 | 1.3 % | 1.3 % | 0 | 14.9 % | -3.5 |
Las Vegas-Henderson-North Las Vegas, | 3.4 % | 3.2 % | $474,950 | -1.0 % | -1.9 % | 5 | 23.3 % | -3.4 |
Los Angeles-Long Beach-Anaheim, CA | -0.9 % | -2.9 % | $1,099,950 | -7.0 % | -2.6 % | 3 | 15.4 % | -1.3 |
Louisville/Jefferson County, KY-IN | 28.7 % | 3.1 % | $322,487 | -1.0 % | 0.3 % | 2 | 19.8 % | 0.8 |
Memphis, TN-MS-AR | 14.2 % | 0.4 % | $302,500 | -12.9 % | -6.0 % | 6 | 25.1 % | 1.1 |
Miami-Fort Lauderdale-West Palm Beach, FL | -16.0 % | -0.4 % | $499,000 | -2.2 % | -0.9 % | -2 | 15.2 % | -3.7 |
Milwaukee-Waukesha, WI | 10.3 % | 2.9 % | $408,400 | -0.4 % | 2.1 % | 4 | 11.8 % | 0.0 |
Minneapolis-St. Paul-Bloomington, MN-WI | 12.6 % | 9.5 % | $439,450 | -1.9 % | -0.5 % | 0 | 16.5 % | 0.4 |
Nashville-Davidson--Murfreesboro--Franklin, TN | 11.0 % | 1.0 % | $539,945 | -1.6 % | -0.9 % | 2 | 21.5 % | -1.8 |
New York-Newark-Jersey City, NY-NJ | 4.8 % | 28.2 % | $792,000 | 0.7 % | 3.4 % | -2 | 9.4 % | 0.4 |
Oklahoma City, OK | 9.0 % | 5.2 % | $319,900 | -2.3 % | -0.6 % | 6 | 22.3 % | -1.4 |
Orlando-Kissimmee-Sanford, FL | -4.8 % | 2.9 % | $419,990 | -2.2 % | -2.8 % | 0 | 22.2 % | -3.6 |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 13.0 % | 9.4 % | $389,900 | 0.6 % | -0.6 % | -2 | 15.2 % | 0.0 |
Phoenix-Mesa-Chandler, AZ | -3.3 % | 6.6 % | $489,500 | -5.9 % | -2.0 % | -1 | 28.7 % | -4.4 |
Pittsburgh, PA | 10.6 % | 7.6 % | $259,900 | 1.9 % | 0.8 % | -1 | 18.8 % | 0.3 |
Portland-Vancouver-Hillsboro, OR-WA | -0.4 % | -1.6 % | $598,950 | -2.6 % | -1.9 % | 2 | 27.0 % | -2.6 |
Providence-Warwick, RI-MA | 6.8 % | 7.1 % | $599,675 | 0.0 % | 8.7 % | 1 | 10.4 % | -2.4 |
Raleigh-Cary, NC | 3.7 % | -0.3 % | $457,000 | -1.2 % | -2.4 % | 0 | 22.6 % | -1.6 |
Richmond, VA | 17.3 % | 2.6 % | $450,000 | -1.4 % | 1.3 % | -6 | 15.4 % | 1.0 |
Riverside-San Bernardino-Ontario, CA | -6.4 % | -2.4 % | $595,000 | -0.8 % | -2.3 % | 1 | 16.9 % | -3.8 |
Sacramento-Roseville-Folsom, CA | -7.1 % | 4.1 % | $629,500 | -0.5 % | 0.0 % | -1 | 19.6 % | -5.5 |
St. Louis, MO-IL | 10.2 % | 6.8 % | $290,000 | -3.3 % | -1.0 % | 4 | 16.1 % | -0.8 |
Salt Lake City-Murray, UT | 2.8 % | 4.7 % | $570,450 | -4.1 % | 0.4 % | 2 | 25.9 % | -2.9 |
San Antonio-New Braunfels, TX | 5.0 % | 4.5 % | $325,000 | -4.5 % | -4.9 % | -1 | 27.6 % | 0.9 |
San Diego-Chula Vista-Carlsbad, CA | -6.2 % | -8.1 % | $929,000 | -6.6 % | -2.4 % | 2 | 17.9 % | -3.7 |
San Francisco-Oakland-Fremont, CA | -17.4 % | -7.6 % | $996,500 | -0.2 % | -4.2 % | -3 | 13.1 % | -3.7 |
San Jose-Sunnyvale-Santa Clara, CA | 6.0 % | -7.5 % | $1,385,000 | -1.0 % | -4.9 % | 3 | 16.5 % | 1.0 |
Seattle-Tacoma-Bellevue, WA | 20.6 % | 0.7 % | $783,250 | -2.0 % | -3.3 % | 2 | 21.2 % | 0.8 |
Tampa-St. Petersburg-Clearwater, FL | -10.5 % | 1.3 % | $399,925 | -4.6 % | -4.2 % | 0 | 26.4 % | -4.7 |
Tucson, AZ | -6.0 % | -8.1 % | $385,000 | -1.7 % | -1.4 % | 5 | 22.0 % | -2.1 |
Virginia Beach-Chesapeake-Norfolk, VA-NC | 8.8 % | 9.0 % | $439,100 | 5.8 % | 2.4 % | -1 | 18.5 % | -2.5 |
Washington-Arlington-Alexandria, DC-VA-MD-WV | 9.9 % | 4.8 % | $585,000 | -6.4 % | -2.3 % | 2 | 16.9 % | -0.6 |
Methodology
Realtor.com housing data as of June 2026. Listings include the active inventory of existing single-family homes and condos/townhomes/row homes/co-ops for the given level of geography on Realtor.com; new construction is excluded unless listed via an MLS that provides listing data to Realtor.com. Realtor.com data history goes back to July 2016. The 50 largest U.S. metropolitan areas as defined by the Office of Management and Budget (OMB-202301) and Claritas 2025 estimates of household counts.
Beginning with our April 2025 report, we have transitioned to a revised national pending home sales data series that applies enhanced cleaning methods to improve consistency and accuracy over time. While the insights and commentary in this report reflect the new series, the downloadable data remains based on our legacy automated pipeline. As a result, there may be slight differences between the report figures and those in the national download file as we transition.
With the release of its January 2025 housing trends report, Realtor.com® has restated data points for some previous months. As a result of these changes, some of the data released since January 2025 will not be directly comparable with previous data releases (files downloaded before January 2025) and Realtor.com® economics research reports.
Methodology for cancellations: A contract cancellation is counted if a listing was pending on one day and then back to active the next. It may miss a few that have been entirely delisted.
Contract Signings represent the flow of homes entering pending status in a given month (i.e. homes that went under contract for the first time in that period). This is a flow measure, not a stock measure. This distinguishes it from the stock of pending listings, which measures the total number of homes under contract at a given point in time regardless of when they entered that status.
About Realtor.com®
For over 30 years, Realtor.com® has connected buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 real estate site REALTOR® agents recommend, Realtor.com® delivers consumer connections and a robust suite of marketing tools to support business growth. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc.
Media Contact: Mallory Micetich, [email protected]
SOURCE Realtor.com
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