The U.S. housing market remains stuck in neutral as the spring homebuying season draws to a close. The Housing Market Hotness Index edged down to 98.81 for the week ending June 7, 2026, from 98.91 the previous week, signaling continued softness in housing activity. While the decline was modest, it reflects broader challenges facing the housing market, including elevated mortgage rates, weak consumer confidence, and growing economic uncertainty. Mortgage rates continue to be a major obstacle for prospective homebuyers. According to Freddie Mac, the average 30-year fixed mortgage rate stood at 6.52% on June 11, 2026. At the same time, uncertainty surrounding the economy, inflation, and global events has left many households hesitant to make large financial commitments. Sellers are facing challenges as well; they need to price their homes competitively and ensure properties are in excellent condition to attract serious buyers.
Although national housing activity remains muted, local market performance varies considerably across the country. Among the nation’s strongest-performing housing markets are San Francisco County, California; Jackson and St. Louis Counties in Missouri; Marion County, Indiana; and Cuyahoga County, Ohio. By contrast, housing conditions remain softer in several Sun Belt markets that experienced rapid growth during the pandemic housing boom. Miami-Dade and Palm Beach Counties in Florida, along with Bexar and Travis Counties in Texas and Davidson County, Tennessee, continue to face weaker demand and higher inventory levels.
*Index values are subject to revision as deemed necessary, contingent upon the receipt of new or updated data.
