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
"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
The national median list price was
Metric | June 2026 | Change over
| Change over | Change over | Change over |
Median listing price | 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 | -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
"The two
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
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
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
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
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."
Region | Active | New Listing | Median List | Median List | Median List | Median Days | Price | Price |
Northeast | 8.5 % | 12.6 % | -1.0 % | 0.9 % | -2 | 12.5 % | -0.2 | |
Midwest | 7.3 % | 1.0 % | 0.0 % | 1.5 % | 3 | 16.5 % | -0.2 | |
South | -0.1 % | 0.4 % | -2.5 % | -3.2 % | 0 | 20.7 % | -2.2 | |
West | 0.3 % | -0.8 % | -4.0 % | -1.6 % | 2 | 20.4 % | -2.8 | |
National | 1.9 % | 2.4 % | -2.5 % | -2.1 % | 0 | 18.8 % | -1.9 |
Metro | Active | New Listing | Median | Median List | Median List | Median | Price | Price |
1.9 % | -2.6 % | 1.9 % | 0.0 % | 1 | 22.9 % | -3.3 | ||
-5.0 % | 0.3 % | -9.8 % | -8.2 % | 5 | 27.6 % | -5.0 | ||
15.1 % | 8.6 % | -3.8 % | -1.4 % | 4 | 17.6 % | 0.2 | ||
7.0 % | 4.1 % | -3.2 % | -1.4 % | 1 | 18.8 % | 0.3 | ||
13.6 % | 4.8 % | -3.5 % | -0.2 % | 6 | 14.6 % | -4.1 | ||
27.7 % | 12.3 % | -9.1 % | -5.2 % | -1 | 9.6 % | 0.5 | ||
16.4 % | 6.0 % | -3.2 % | -1.6 % | 3 | 23.5 % | -2.5 | ||
-7.8 % | -11.8 % | 3.8 % | 1.8 % | -1 | 12.7 % | -0.6 | ||
18.9 % | 4.7 % | 0.0 % | -0.1 % | 5 | 17.2 % | 1.4 | ||
3.8 % | 2.8 % | 0.0 % | 3.3 % | 2 | 16.2 % | 0.8 | ||
8.5 % | 0.3 % | 1.2 % | 1.1 % | 3 | 24.1 % | 0.1 | ||
-4.4 % | -6.5 % | 0.0 % | -2.0 % | 1 | 26.8 % | -3.7 | ||
-4.9 % | -1.4 % | -3.4 % | -3.5 % | 3 | 29.0 % | -4.6 | ||
14.3 % | 3.6 % | -1.8 % | 0.0 % | 3 | 15.9 % | 0.6 | ||
| 1.5 % | -0.1 % | 3.5 % | 0.8 % | 1 | 7.1 % | -1.3 | |
1.4 % | -0.5 % | -3.4 % | -2.4 % | 4 | 20.1 % | -3.7 | ||
18.6 % | 9.0 % | -5.0 % | 4.9 % | 5 | 25.6 % | -1.1 | ||
-20.6 % | 1.1 % | -2.4 % | -2.5 % | -8 | 23.7 % | -6.5 | ||
-2.3 % | 1.2 % | 1.3 % | 1.3 % | 0 | 14.9 % | -3.5 | ||
Las | 3.4 % | 3.2 % | -1.0 % | -1.9 % | 5 | 23.3 % | -3.4 | |
-0.9 % | -2.9 % | -7.0 % | -2.6 % | 3 | 15.4 % | -1.3 | ||
28.7 % | 3.1 % | -1.0 % | 0.3 % | 2 | 19.8 % | 0.8 | ||
14.2 % | 0.4 % | -12.9 % | -6.0 % | 6 | 25.1 % | 1.1 | ||
-16.0 % | -0.4 % | -2.2 % | -0.9 % | -2 | 15.2 % | -3.7 | ||
10.3 % | 2.9 % | -0.4 % | 2.1 % | 4 | 11.8 % | 0.0 | ||
12.6 % | 9.5 % | -1.9 % | -0.5 % | 0 | 16.5 % | 0.4 | ||
11.0 % | 1.0 % | -1.6 % | -0.9 % | 2 | 21.5 % | -1.8 | ||
4.8 % | 28.2 % | 0.7 % | 3.4 % | -2 | 9.4 % | 0.4 | ||
9.0 % | 5.2 % | -2.3 % | -0.6 % | 6 | 22.3 % | -1.4 | ||
-4.8 % | 2.9 % | -2.2 % | -2.8 % | 0 | 22.2 % | -3.6 | ||
13.0 % | 9.4 % | 0.6 % | -0.6 % | -2 | 15.2 % | 0.0 | ||
-3.3 % | 6.6 % | -5.9 % | -2.0 % | -1 | 28.7 % | -4.4 | ||
10.6 % | 7.6 % | 1.9 % | 0.8 % | -1 | 18.8 % | 0.3 | ||
-0.4 % | -1.6 % | -2.6 % | -1.9 % | 2 | 27.0 % | -2.6 | ||
Providence- | 6.8 % | 7.1 % | 0.0 % | 8.7 % | 1 | 10.4 % | -2.4 | |
3.7 % | -0.3 % | -1.2 % | -2.4 % | 0 | 22.6 % | -1.6 | ||
17.3 % | 2.6 % | -1.4 % | 1.3 % | -6 | 15.4 % | 1.0 | ||
-6.4 % | -2.4 % | -0.8 % | -2.3 % | 1 | 16.9 % | -3.8 | ||
-7.1 % | 4.1 % | -0.5 % | 0.0 % | -1 | 19.6 % | -5.5 | ||
10.2 % | 6.8 % | -3.3 % | -1.0 % | 4 | 16.1 % | -0.8 | ||
Salt | 2.8 % | 4.7 % | -4.1 % | 0.4 % | 2 | 25.9 % | -2.9 | |
5.0 % | 4.5 % | -4.5 % | -4.9 % | -1 | 27.6 % | 0.9 | ||
-6.2 % | -8.1 % | -6.6 % | -2.4 % | 2 | 17.9 % | -3.7 | ||
-17.4 % | -7.6 % | -0.2 % | -4.2 % | -3 | 13.1 % | -3.7 | ||
6.0 % | -7.5 % | -1.0 % | -4.9 % | 3 | 16.5 % | 1.0 | ||
20.6 % | 0.7 % | -2.0 % | -3.3 % | 2 | 21.2 % | 0.8 | ||
-10.5 % | 1.3 % | -4.6 % | -4.2 % | 0 | 26.4 % | -4.7 | ||
-6.0 % | -8.1 % | -1.7 % | -1.4 % | 5 | 22.0 % | -2.1 | ||
8.8 % | 9.0 % | 5.8 % | 2.4 % | -1 | 18.5 % | -2.5 | ||
9.9 % | 4.8 % | -6.4 % | -2.3 % | 2 | 16.9 % | -0.6 |
Methodology
Realtor.com housing data as of
Beginning with our
With the release of its
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]
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SOURCE Realtor.com