U.S. housing inventory sits at 4 months supply in July 2026; median prices rose 2% YoY as 30-year mortgage rates hold at 6.58%.
As of July 2026, the U.S. housing market offers a 4-month supply of homes, according to the latest National Association of Realtors (NAR) and Redfin data. This figure is slightly tighter than the 4.6-month supply recorded for June 2026, indicating that available homes remain limited relative to buyer demand.
Redfin reports that 1,483,839 homes were listed for sale nationwide in May 2026, a modest 0.7% increase from the prior year. New listings totaled 396,181, up 1.2% year-over-year, yet the overall inventory growth has not been sufficient to ease buyer competition.
The median sales price for existing homes reached $440,600 in June 2026, marking a 1.8% year-over-year gain. NAR data show 4.09 million existing-home sales for the month, while Redfin’s national dataset indicates a 2% annual price increase through July. These figures suggest that modest price appreciation continues despite elevated borrowing costs.
Live FRED data as of July 23, 2026, place the 30-year fixed mortgage rate at 6.58%, the 15-year fixed at 5.96%, and the 10-year Treasury yield at 4.61%, producing a 1.97% spread. At these levels, monthly principal-and-interest payments on a median-priced home exceed $2,800, keeping affordability constrained for many households.
Supply conditions vary sharply by state. California’s May 2026 inventory stood at 108,753 homes, down 5.6% year-over-year, translating to roughly three months of supply. Florida recorded 200,524 homes for sale, a 9.89% decline, equating to about five months of supply—still below the national average. Both states continue to experience faster price growth than the U.S. median.
| Metric | United States | California | Florida |
|---|---|---|---|
| Homes for sale (May 2026) | 1,483,839 | 108,753 | 200,524 |
| YoY change | +0.7% | –5.6% | –9.89% |
| Months of supply (approx.) | 4.0 | 3.0 | 5.0 |
With inventory remaining below the six-month equilibrium threshold, sellers in low-supply states continue to receive multiple offers and shorter days-on-market. Nationally, the 0.1-month year-over-year drop in inventory signals that new construction and homeowner listings have not yet offset ongoing demand. Economists at NAR note that any sustained improvement in affordability will require either lower mortgage rates or a meaningful increase in active listings.
Readers can run live scenarios at HomeRates.ai to model how changes in rates or home prices would affect monthly payments in their target markets.
July 2026 data confirm a 4-month national housing inventory, with California tighter at three months and Florida at five months. Median prices are up 2% year-over-year while the 30-year fixed rate sits at 6.58%, keeping affordability tight and reinforcing the seller’s market conditions observed throughout the first half of the year.
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