The U.S. Housing Market Hotness Index fell to 95.94 for the week ending August 2, 2026, from 96.37 a week earlier, marking its sixth consecutive weekly decline. The latest reading points to mounting housing affordability pressures as elevated borrowing costs limit buyers’ purchasing power. And mortgage payments are only part of the affordability equation: rising homeowners insurance premiums and property taxes have pushed the overall cost of homeownership higher. After six straight weekly declines, the housing market may have already passed its peak level of activity for 2026.
Beneath the softer national picture, housing market conditions vary sharply by location. Stronger buyer activity is evident in San Francisco County, California; Jefferson County, Missouri; Montgomery County, Pennsylvania; Cuyahoga County, Ohio; and Norfolk County, Massachusetts. Meanwhile, Miami-Dade and Palm Beach Counties, Florida; Bexar and Travis Counties, Texas; and Davidson County, Tennessee rank among the weaker markets. The contrast shows why national housing statistics alone provide an incomplete picture: differences in affordability, inventory, employment, and local demand are producing markedly different outcomes across U.S. housing markets.
