National home-price growth remained “modest but accelerating” in June thanks to strong results in the Midwest and Northeast that offset softness in the South and West, Cotality said in its monthly Home Price Insights report.  

“The U.S. housing market is no longer moving in one direction,” Cotality said. “Cotality’s June HPI shows a clear geographic rebalancing: Inventory-constrained Midwest and Northeast markets are still seeing firm price growth, while many former boom markets in the South and West are adjusting to more supply, weaker affordability and greater buyer leverage.” 

The national median home price of $427,400 represented an acceleration from 0.8% year-over-year growth in May to 1.2% growth in June. A buyer would need $95,000 annually to afford a home at that price. Looking ahead, Cotality expects home prices to rise another 1.5% between June 2026 and June 2027.  

“June data shows a market that is rebalancing, but not uniformly,” Cotality Chief Economist Selma Hepp said. “While the Midwest and Northeast continue to lead price growth, rising for-sale inventory is finally helping to release some of the pressure on those markets. In contrast, the rapid inventory buildup in parts of the South and West has slowed price growth and helped stabilize the price declines seen over the last year.  

“After solid spring and early-summer price momentum despite higher mortgage rates, that strength is likely to fade as inflation pressures, labor market weakness and elevated borrowing costs weigh on prospective homebuyers.”