Home prices are still rising across the US, but when you look at the numbers a bit closer, the story gets more nuanced. In Q2 2026, while the official federal index didn’t budge month-over-month from mid- to late Q2 (once you account for seasonal patterns), national data did show a modest uptick—about 1.5% annual appreciation by late Q2, compared to roughly 1% in mid-Q2. But with inflation hovering around 3.5%, that means real home values have actually slipped for the 13th month straight. The good news: slower inflation and slightly stronger price growth have softened that slide.
As someone who’s spent 25 years helping buyers and sellers navigate changing markets, I’ve seen how nominal prices can stay resilient—even when real value feels under pressure. In fact, one key federal measure has recorded positive annual growth every quarter since early 2012. Still, affordability remains the central challenge for many, especially first-time buyers, as typical monthly payments for existing single-family homes ticked up again last quarter. For anyone considering a move—whether you’re buying your first place or ready for a change—understanding these trends is key to making confident decisions. Your home should fit your life, and I’m here to help you make sense of the numbers.
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