08/27/2026
2026 Housing Forecast Midyear Update:
Sales Edge Modestly Higher as Affordability Improves
A resilient economy keeps rates elevated as policymakers and consumers navigate a new round of inflation.
Mortgage rate projections are unchanged at 6.3% as a fresh round of inflation combined with economic resilience, particularly in the labor market, has offset lower than expected rates in the first few months of the year.
Existing-home sales are expected to total 4.10 million as year-over-year growth improves in the second half of the year after a slow start.
Home prices climb nominally, rising 1.2% in the year, a slower pace of growth than originally expected, and one that does not keep pace with inflation.
Rents are expected to drop another 1.2%, making renting an attractive option for households in many markets, although the cost-advantage of renting has waned as mortgage costs drop.
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