The U.S. housing market has settled into a pattern of alternating monthly gains and losses, with little forward momentum for more than three years. Home sales fell in July, according to Homes.com, but were up 2.9% over the year. Combined new and existing home sales, measured at seasonally adjusted annual rates, have remained within a narrow range since 2023, well below their pre-pandemic five-year average.
Housing market finds its new normal
With higher financing costs and dampened demand, the sector has reached a low-activity equilibrium
CoStar Analytics
August 26, 2026 | 3:36 P.M.
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