Home Prices Set New Record High 7/20/26

Summary

US home prices hit a new record high in June, driven by low inventory nationwide, though some local markets like Tampa and Texas have more supply. Mortgage rates remain around 6.5%, with more first-time buyers entering the market while all-cash purchases declined.

• June median home price reached $440,600, up 1.8% year-over-year and a record high.
• Nationwide housing inventory remains insufficient to meet demand, pushing prices up.
• Local market conditions differ: Tampa, Florida, and parts of Texas have more properties on the market.
• First-time buyers made up 33% of sales in June, up from 30% a year ago.
• Average 30-year fixed mortgage rate was around 6.5% per Mortgage News Daily.
• All-cash purchases fell to 25% of sales, down from 29% last year.