Active listings were essentially flat year over year at 1,476,146, keeping months of supply at 3.5, well short of the four-to-five-month range considered balanced. New listings rose just 1.7% annually to 358,736.
Read more: New listings drought tests US housing market
The latest FHFA data shows home prices were essentially flat in April as elevated mortgage rates continued to limit transaction activity despite year over year price growth.https://t.co/jBDR9QD7AR
— Mortgage Professional America Magazine (@MPAMagazineUS) June 30, 2026
Metro-level divergence adds complexity for brokers
The national figures conceal significant regional variation. San Francisco led all tracked metros with a 10.8% price gain year over year and a 17% surge in pending sales. West Palm Beach, Florida followed at 10.6% price growth.
Seattle moved in the opposite direction as prices fell 5.3% and pending sales dropped 14.7%, the steepest decline of any tracked metro.
Houston’s pending sales declined 14%.