Home prices across the US are still on the rise in dollar terms, but when you look beneath the surface, the story gets more nuanced. In Q2 2026, one key federal index held steady from mid- to late-quarter (after seasonal adjustment), and the national index reported about 1.5% annual appreciation by late Q2—up a bit from mid-quarter, yet roughly 2 points below inflation, which hovered around 3.5%. That gap means homeowners have now seen real (inflation-adjusted) values slip for the 13th consecutive month, though slower inflation and steady nominal gains have eased the impact. Interestingly, that same federal measure has shown positive nominal appreciation every quarter since early 2012, a testament to the market’s long-term resilience even as real values face pressure. As we head into the second half of the year, affordability remains a top concern, with typical monthly payments on existing single-family homes climbing again—making things especially tough for first-time buyers. In unique markets like Carova, where I’ve spent nearly two decades helping clients navigate the ins and outs of coastal real estate, understanding these trends is essential for making informed decisions about buying, selling, or holding property.
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