US Home Sales Slip as Affordability Improves
National existing-home sales pulled back in June even as affordability nudged higher, a sign the market may be finding a new equilibrium rather than stalling out. Mortgage rates have held in the mid-6% range for weeks, giving buyers and lenders a rare stretch of predictability. California’s regional data reflects that same push and pull: Orange County inventory just hit its highest level of the year as new listings pick up, Los Angeles prices are climbing but more slowly than the national pace, and San Diego’s median cooled from its spring peak. Investors and first-time buyers alike are watching rates for the next signal.
In The News:
NAR — Existing-Home Sales Report Shows 2.4% Decrease in June (July 9, 2026) — Existing-home sales fell 2.4% month-over-month in June to a seasonally adjusted annual rate of 4.09 million, even as sales rose 2.8% from a year earlier, according to the National Association of Realtors. The median existing-home price climbed 1.8% to $440,600, the 36th straight month of annual gains. NAR’s Housing Affordability Index improved to 102.3 from 95.5 a year ago, with unsold inventory at a 4.6-month supply.
Freddie Mac — Mortgage Rates Hover in Mid-Six Percent Range (July 9, 2026) — The 30-year fixed-rate mortgage averaged 6.49% for the week ending July 9, up slightly from 6.43% the week before, Freddie Mac reported. The 15-year fixed rate rose to 5.82% from 5.79%. Both benchmarks remain below year-ago levels, when the 30-year averaged 6.72%, giving buyers marginally more purchasing power even as rates hold in a narrow band.
OC Housing Report — Orange County Housing Market Report (July 13, 2026) — Orange County’s active listings climbed to 5,104 homes, the highest level so far in 2026, as new listings surged to 879 for the week — also a year high. Closings pulled back to 423 from 478 the week prior, while homes under contract held steady at 1,916. The median list price for single-family homes reached $1,869,000, with days on market falling to 60 as rising inventory reflects fresh listings rather than a slowdown in demand.
KESQ — Are Home Prices Going Up in Los Angeles in 2026? (July 14, 2026) — Los Angeles’ median home sale price reached $927,419, up 2.0% year-over-year and 1.4% from the prior month, according to a Stacker analysis of housing data. That pace trails the national median’s 2.4% annual gain, suggesting Southern California’s largest market is cooling relative to the rest of the country. Prices in Los Angeles have still climbed 48.4% since April 2019, underscoring how far the market has run even as growth slows.
SD Cash Buyer — San Diego Median Home Price $1.02 Million Market Analysis (July 10, 2026) — San Diego’s median home price slipped to $1.02 million in July, down 2.9% from June’s $1.05 million, per local market data. Active listings stood at roughly 5,800 units with 3.2 months of supply, keeping the county in seller-leaning territory even as the pullback suggests some cooling after a strong spring. Mortgage rates near 6.4% continue to weigh on buyer purchasing power across the region.
