Home Prices Set New Record as Supply Remains Tight

At a Glance:

• The median price of an existing home reached a record $440,660 in June 2026, up 1.8% from a year ago¹
• Home prices have increased for 36 consecutive months²
• Housing inventory stood at 1.56 million units at the end of June 2026, reflecting a 0.6% decrease from May 2026³
• Existing home sales rose 2.8% year over year⁴

The housing market entered the second half of 2026 with home prices reaching new highs and inventory remaining below historically balanced levels. In June, the median price of an existing home climbed to a record $440,660,⁵ while the number of homes available for sale edged slightly lower.⁶ This month's Mortgage Monitor takes a closer look at the latest housing trends and the role supply continues to play in today's market.

Home Prices Continue Higher

June marked the 36th consecutive month of year-over-year home price growth, reinforcing a trend that has defined the housing market for the past three years.⁷ Price levels continue to vary by region. The West posted the highest median single-family home price at $633,600, followed by the Northeast at $564,800. Median prices remained lower in the South ($377,700) and Midwest ($346,600), though all regions experienced annual appreciation.⁸

"Home prices have continued to rise consistently, reflecting steady demand in a market where available inventory remains limited," said Brett Hively, Senior Vice President, Mortgage Capital Markets and Financial Strategist at Ameris Bank. "The persistence of price growth highlights the impact supply continues to have on market conditions."⁹

Decreased Housing Inventory

Housing inventory totaled 1.56 million units at the end of June, down slightly from the previous month.¹⁰ At the current sales pace, that represents a 4.6-month supply of homes, below the six-month benchmark often associated with a balanced housing market. "Limited inventory continues to be an important factor in today's market," said Hively. "When supply struggles to keep pace with demand, it can create ongoing support for home values."¹¹ 

Buyer Activity Shows Resilience

While affordability remains a consideration for many households, buyers continue to stay active in the market. Existing home sales increased 2.8% from June 2025, signaling that demand remains present despite higher home prices.¹² "Continued purchase activity suggests buyers are adapting to current market conditions," said Hively. "For existing homeowners, rising home values have also helped build equity, creating opportunities that may support future financial goals."

As housing market conditions continue to evolve, staying informed remains important for both consumers and real estate professionals. Ameris Bank Mortgage is committed to serving as a trusted resource by providing market insights, industry expertise, and personalized lending solutions designed to support buyers, homeowners, and referral partners alike.


Sources:
^{1, 2, 5, 7, 8, 9} https://www.cbsnews.com/news/us-home-prices-all-time-high
^{3, 4, 6, 10, 11, 12} https://www.cnbc.com/2026/07/09/june-home-sales-prices.html



The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Ameris Bank does not endorse nor is affiliated with the companies listed in this article.