The U.S. Housing Market Hotness Index edged lower to 98.11 for the week ending July 5, 2026, down from 98.84 the previous week, reflecting a housing market that continues to lose momentum. Existing home sales declined 2.4% from May to a seasonally adjusted annual rate of 4.09 million units in June, remaining well below the historical norm of more than 5 million annual sales. Elevated home prices, mortgage rates holding in the mid-6% range, persistent inflation, and ongoing economic uncertainty continue to weigh on buyer confidence and limit purchasing activity, keeping overall demand subdued.
While national housing conditions remain soft, local market performance varies considerably. Several markets continue to exhibit strong buyer demand and relative resilience, including San Francisco County, California; Jackson County, Missouri; Marion County, Indiana; Montgomery County, Pennsylvania; and Cuyahoga County, Ohio. At the other end of the spectrum, housing market conditions remain weaker in Miami-Dade and Palm Beach Counties, Florida; Bexar and Travis Counties, Texas; and Davidson County, Tennessee, where softer demand continues to put downward pressure on market activity.
*Index values are subject to revision as deemed necessary, contingent upon the receipt of new or updated data.
