As I predicted, the national housing market is holding up, even with interest rates hovering around 6.5%. Pent-up housing demand and a low inventory of homes for sale are keeping the market more than stable.
One concern has been that inflation might prompt the new Fed chair to raise interest rates at the next meeting. Personally, I doubt that will happen. The inflation we are seeing today is different from the inflation we experienced several years ago. I believe the current inflationary pressures will taper off and ease with the conclusion of the Iran conflict.
I expect interest rates to remain about where they are through the next quarter. What happens after that is anyone's guess.
My advice is simple: if you're thinking about buying a home, don't wait. If you're thinking about selling a home, don't wait. Many buyers and sellers are already acting on these market conditions.
The following article was published this past week by the National Association of Realtors.
WASHINGTON (June 17, 2026) – Pending home sales in May increased by 3.8% month-over-month and 4.8% year-over-year, according to the National Association of REALTORS® Pending Home Sales report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales under contract.
Month-over-month and year-over-year pending home sales rose in the Northeast, Midwest, South and West.
“A late spring buyer rush—even with mortgage rates not budging—is an indication of pent-up housing demand and consumers’ acceptance of above-6% mortgage rates as the new normal,” said NAR Chief Economist Dr. Lawrence Yun. “The inventory-constrained Northeast region, which has seen faster home price growth but slower home sales for several months, is now showing more buyer contract signings. More supply is needed to help moderate home price growth.”
“Going forward, falling oil prices will help lower mortgage rates,” Yun said. “But declines will be modest given sizable borrowing by the federal government and strong AI investment spending by tech companies.”
Have An Awesome Week!
Haas Real Estate Team
541.349.2620