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The U.S. housing market moved into summer 2026 in balance. Inventory sits modestly above year-ago levels, buyer demand held steady — contract volume rose year-over-year in June even as net new listings declined — and home prices remained broadly stable. Months of inventory stands at 4.59, and median days on market eased to 47, down from 48 one year ago. Together, the June data point to a more sustainable, balanced market environment heading into the second half of the year.
Inventory Growth Slows as Supply Returns to Historical Norms
Total single-family inventory rose 2.9% year-over-year in June, continuing the return to average historical levels even as net new listings decline. Compared with June 2024, inventory is up 20.1% — but the pace of year-over-year growth has cooled meaningfully versus the past two years.
Months of inventory stands at 4.59, indicating a neutral market environment that is bordering on buyer's-market territory. Median days on market declined modestly to 47 days, down 2.1% from 48 days one year ago — a sign that homes are still clearing at a healthy pace even with more supply available.
Buyer Demand Holds Firm Even as Listings Decline
Buyer activity remained robust through June. 322,596 single-family properties went under contract — an increase of 1.9% year-over-year — even as net new listings fell 9.0% versus June 2025. The decline in net new listings was driven by a 3.7% decrease in new listing volume combined with a 19.0% increase in removals.
Over the trailing 52 weeks, contracts totaled 2,947,666, up 1.7% year-over-year, while net new listings of 2,864,756 were down 4.0%. The pattern — fewer new listings paired with steady contract volume — reflects a market that is absorbing existing inventory rather than expanding it.
Prices Hold Stable as Closed Prices Climb
Single-family prices exhibited stability in June. The median listing price was $461,351, down 1.6% year-over-year, while the median closed price rose 6.1% to $458,150. Month-over-month, the median listing price decreased 0.8%, reflecting typical seasonality, while the median closed price rose 3.5%.
The median price-per-sqft of listed homes is $237.4 (down 1.7% YoY), and the median closed price-per-sqft is $245.6 (up 3.9% YoY). The sale-to-list price ratio stands at 98.5%, and price cuts are down 7.9% versus June 2025 — continuing to pull back from the multi-year high observed in 2025.
Rental Market: Supply Keeps Tightening as Rents Ease
The single-family rental market saw inventory contract 19.8% year-over-year, and it now sits 7.9% below June 2024 levels — a continuation of the sharp rental supply tightening tracked in recent months. The median listed rent declined 2.1% year-over-year to $2,506, with rents up 0.2% month-over-month.
Tighter rental supply paired with slightly softer rents suggests landlords are continuing to price competitively even as fewer units come to market.
Condo Market: Buyer's-Market Conditions Persist
The condo market — including townhomes and other single-family attached units — continues to run more buyer-friendly than the detached segment. Total condo inventory is up 3.3% year-over-year and up 24.1% versus 2024. Months of inventory stands at 5.85, in buyer's-market territory, while median days on market declined to 60 days, down from 62 one year ago.
66,067 condos went under contract in June, an increase of 1.3% year-over-year, while net new condo listings fell 8.6% — driven by a 1.9% decrease in new listings combined with a 14.9% increase in removals.
Condo pricing remains softer than detached. The median condo listing price was $400,619, down 3.4% year-over-year, while the median closed price was $400,853, up 1.1%. The sale-to-list ratio for condos sits at 97.2%, and condo price cuts are down 11.1% compared with June 2025. In the condo rental market, the median listed rent fell 3.8% year-over-year to $2,330, while condo rental inventory is down 3.4% year-over-year.
Key June 2026 Highlights
All single-family figures below reflect Single-Family Detached (SFD) homes; condo metrics are summarized in the Condo Market section above.
- Net New Listings (SFD): 300,306 in June (down 9.0% YoY)
- Contracts (SFD): 322,596 in June (up 1.9% YoY)
- Inventory (SFD): +2.9% YoY; months of supply at 4.59
- Days on Market (SFD): 47 (down from 48 YoY)
- Prices (SFD): Listing –1.6% YoY ($461,351) | Closed +6.1% YoY ($458,150)
- Rental Market (SFD): Inventory –19.8% YoY | Median rent $2,506 (–2.1% YoY)
- Condo Market: Inventory +3.3% YoY | Months of supply at 5.85 | Listing prices –3.4% YoY
The Bottom Line
The June 2026 Market Pulse shows a U.S. housing market holding its balance as summer begins. Moderating supply growth, steady buyer activity, and stable pricing trends continue to support a more sustainable market environment across both single-family and condo segments — with condos remaining noticeably more buyer-friendly than detached homes.
Explore the full June 2026 Market Pulse Report to access detailed data, trends, and regional breakdowns shaping today's housing market.
