Median Listing Price
$428,950
-0.2% month over month
HOUSING MARKET TRENDS AND MORTGAGE RATE PREDICTIONS
Know what the U.S. real estate trends mean for you and what to do next so you’re prepared to connect with an agent who’ll put you first.
U.S. Housing Market Trends
Last update: August 7, 2026. Next scheduled update: August 14, 2026. Sources: FRED® API, Realtor.com®, Freddie Mac and Fannie Mae.
Median Listing Price
$428,950
-0.2% month over month
How Does the Housing Market Affect Listing Prices?
Home prices are driven by supply and demand:
- When more homes are on the market than there are buyers, prices often lower.
- When buyers outnumber listed homes, prices usually rise.
Buying or selling a home is one of the biggest financial decisions you’ll ever make, so getting the price right matters. When you understand what’s happening in your local market, you’re far more likely to avoid overpaying or selling for too little and walk away with a great deal.
That’s where a RamseyTrusted® real estate agent comes in. They’ll help you price your home competitively, negotiate with confidence, and make smart decisions every step of the way.
Methodology
These numbers come from Realtor.com® and cover the last full month of available data. For national data, we use the published national median. For city data, we use the published zip code median that contains the midpoint of all homes for sale across the city’s zip codes.
Total Homes for Sale
1.1M
+2.1% month over month
Why Does Total Homes for Sale Matter?
Total homes for sale (or inventory) is one of the clearest signals of where the housing market is headed, and it moves home prices more than almost anything else. When inventory is high, buyers have options and room to negotiate, so prices tend to get lower. When inventory is low, buyers compete over fewer homes, and prices go up.
Methodology
These numbers come from Realtor.com® and cover the last full month of available data.
Median Days on Market
57
+7.6% month over month
What Does "Median Days on Market" Mean?
Median days on market shows how quickly homes are selling, and who has negotiating leverage.
- Fewer days on market: Sellers often have the upper hand, and buyers need to act fast with a strong offer to close the deal.
- More days on market: Buyers usually have more negotiating power, and sellers might need to adjust pricing or expectations.
Remember, the market shouldn’t decide when you buy or sell. Only your financial situation should. A hot or slow market changes your strategy, not your readiness.
Methodology
These numbers come from Realtor.com® and cover the last full month of available data. For national data, we use the published national median. For city data, we use the published zip code median that contains the midpoint of all homes for sale across the city’s zip codes.
Listings With Price Cuts
20.0%
+1.2% month over month
What Does "Listings With Price Cuts" Mean?
This shows the percentage of home sellers who lowered their asking price last month. More price cuts can mean homes are taking longer to sell and sellers are becoming more willing to negotiate.
Methodology
These numbers come from Realtor.com® and cover the last full month of available data.
Weekly Average 15-Year Fixed Mortgage Rate
6.01%
Recommended
Why We Recommend a 15-Year Mortgage Over a 30-Year Mortgage
With a 15-year loan . . .
- You’ll pay significantly less in total interest.
- You’ll typically get a lower interest rate.
- You’ll build equity faster.
- You’ll pay off your house in half the time.
That means you keep more of your money in your pocket and your home feels like a blessing, not a burden.
How Mortgage Rates Work (and How They Impact Your Payment)
Mortgage rates play a big role in your monthly house payment and the total amount you’ll pay over the life of the loan. A mortgage is a loan used to buy a home, and the interest is the cost of borrowing that money.
- Higher rates: You pay more every month and more in interest overall.
- Lower rates: You pay less each month and keep more money in your pocket long term.
Here’s the math on that: Say you purchase a $423,000 home with a 5% down payment. If you take advantage of a 15-year fixed mortgage rate of 5.5%, instead of 6.5%, you could save:
- $3,980 in the first year
- $39,078 over the life of the loan
Ramsey Guideline
Keep your mortgage payment at 25% or less of your take-home pay, using a 15-year fixed-rate conventional loan with a solid down payment. That’s how you own your home, without it owning you.
Weekly Average 30-Year Fixed Mortgage Rate
6.69%
Not Recommended
These are the main reasons we don’t recommend a 30-year mortgage
It costs you a massive amount of extra money in interest. And it keeps you in debt twice as long.
Here’s a simple way to think about it. On a typical home loan, a 30-year mortgage can cost you over $260,000 more in interest than a 15-year mortgage on the same home. That’s a life-changing amount of money walking out the door.
A few other reasons we steer people away from the 30-year mortgage:
- You build equity slowly. More of your early payments go to interest instead of paying down the actual loan balance.
- It tempts you to buy more house than you can afford. The lower monthly payment feels manageable, but you’re just stretching out the pain.
- “I’ll pay extra each month” rarely works. Life happens. The extra payment gets eaten by something else. A 15-year mortgage builds in the discipline automatically.
- Millionaires have paid-off homes. That’s not a coincidence. Getting out from under a mortgage fast is a wealth-building accelerator.
The only mortgage we recommend is a 15-year fixed-rate mortgage, with a payment at or below 25% of your monthly take-home pay. If the 15-year payment pushes past that 25% threshold, the answer isn’t a 30-year loan, it’s a less expensive house or a bigger down payment. That way, you don’t become house poor.
Predicted 15-Year Fixed Mortgage Rate
5.60%
Expected rate by 2027
This is where 15-year fixed mortgage rates could be by the end of the year. It’s smart to keep an eye on what experts are forecasting. But remember, rates can be as unpredictable as the weather.
If you’re financially ready, don’t let a small change (or the chance of a change) hold you back. Date the rate and marry the house. Rates will always rise and fall, but what matters most is finding a home you can actually afford. You can always refinance later.
Where Did We Get This Rate Prediction?
This forecast comes from Fannie Mae, one of the largest players in the U.S. mortgage market. Their experts analyze housing, economic and mortgage trends, and they survey both lenders and consumers to predict where rates might be headed.
The key word here is might, because even with all that research, these are still educated guesses. Mortgage rate forecasts can be helpful, but they shouldn’t be the main reason you decide to buy or wait. Your own financial readiness should be the deciding factor.
Methodology
Fannie Mae publishes forecasts for 30-year mortgage rates, but we only recommend 15-year fixed-rate loans. To estimate a predicted 15-year rate, we start with Fannie Mae’s projected 30-year rate and subtract the average difference between 30-year and 15-year mortgage rates over the last 12 months using Freddie Mac data.
Example: 6.3% (Fannie Mae 30-year forecast) − 0.82% (12-month average spread) = 5.48% estimated 15-year rate.
Predicted 30-Year Fixed Mortgage Rate
6.30%
Expected rate by 2027
This is where 30-year fixed mortgage rates could be by the end of the year. It’s smart to keep an eye on what experts are forecasting. But remember, rates can be as unpredictable as the weather.
If you’re financially ready, don’t let a small change (or the chance of a change) hold you back. Rates will always rise and fall, but what matters most is finding a home you can actually afford. You can always refinance later.
Where Did We Get This Rate Prediction?
This forecast comes from Fannie Mae, one of the largest players in the U.S. mortgage market. Their experts analyze housing, economic and mortgage trends, and they survey both lenders and consumers to predict where rates might be headed.
The key word here is might, because even with all that research, these are still educated guesses. Mortgage rate forecasts can be helpful, but they shouldn’t be the main reason you decide to buy or wait. Your own financial readiness should be the deciding factor.
Methodology
Fannie Mae publishes forecasts for 30-year mortgage rates, but we only recommend 15-year fixed-rate loans.
How We Get Our Regional Numbers
These figures represent a month-over-month comparison from July 2026 to August 2026.
We pulled this data from Realtor.com by first grouping states into the four U.S. Census regions (West, South, Midwest and Northeast). For each region, we multiplied each state’s median listing price by its number of active listings, then added everything up and divided by the total active listings in that region. This way, states with more homes on the market have a larger impact on the regional price.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
You’ve seen the trends. Now get personalized guidance with Ramsey’s AI that’s built on our principles. You’ll learn exactly what to do next when buying or selling a home.
Run the Numbers Before You Make Your Move
Once you know your next step, it’s time to see what’s possible for your budget. The market matters, but your numbers matter more. Calculate what you can actually afford so your home is a blessing, not a burden.
Avoid Overpaying or Underselling With a Trusted Agent
Now that you know what you can afford, don’t risk making an expensive mistake. A RamseyTrusted® agent helps you make smart decisions in this market, so you can keep more money in your pocket.
1. Compare up to three local agents.
2. Pick the right pro for you.
3. Navigate the market with an expert by your side.
Our Agent Vetting Process
You can’t buy trust, and you can’t buy your way into RamseyTrusted either. Unlike other agent sites, we only recommend agents who pass an intense interview process.
They’re vetted for experience and integrity, receive ongoing coaching from our team, and consistently meet our high standards. They have to earn our trust (and yours) every single day. If they lose our trust, we kick them out. Simple as that.
RamseyTrusted Agent Standards
Experienced. Vetted. Ready to serve.
Every agent must meet these requirements:
Minimum 50 home closings in their career
Minimum 2 years full-time experience
Familiar with the 7 Baby Steps
Is It a Buyer’s Market or a Seller’s Market?
One easy way to tell if the market favors buyers or sellers is to check the months of supply. That’s how long it would take for all the listings on the market to get bought up at the current sales pace. Learn the difference between buyer’s and seller’s markets here.
Last update: July 14, 2026. Next scheduled update: August 17, 2026. Source: National Association of REALTORS®, 2026.
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Difference Between a Buyer’s and Seller’s Market
You can buy or sell successfully in any kind of market, but the best time is when you’re financially ready. Market conditions shouldn’t drive your decision, but they can tell you what to expect. Let’s take a look.
- Buyer's Market: There are more homes for sale than there are buyers (higher supply, lower demand). Buyers may see less competition, more time to shop, purchase incentives, better negotiating terms, and even price cuts.
- Seller’s Market: There are fewer homes for sale than there are buyers (lower supply, higher demand). Sellers may receive multiple offers, close faster, get stronger contract terms, and sell at higher prices.
- Neutral Market: A housing supply of four to six months is generally considered a neutral or balanced market, though not all economists agree on the exact range. In a neutral market, home prices tend to rise at a steady pace and buyers and sellers are usually on equal footing when it comes to negotiating.
Keep in mind, this graph is based on national data for existing homes. Conditions may be different in your local market depending on what you’re looking for. Want a clearer picture of your area? Connect with a local real estate agent you can trust.
Trusted Real Estate Advice in Any Market
You can’t control the market, but you can control your decisions. When you’re not sure what to do next, Ramsey Real Estate helps you buy or sell the smart way. Follow for practical advice to take your next steps with confidence.