Home Prices Face Pressure, Not Crash | When Experience and Results Matter

Existing-home supply stayed above pre-pandemic levels, while 2026 sales were mostly unchanged from 2025 and remained the weakest pace since 1995.
That kept prices under pressure, especially where inventory ran high, but the outlook did not suggest cascading declines tied to distressed selling.
The reason: most homeowners held substantial equity and low mortgage rates, limiting the chance of a large distressed-sales wave like the housing bust.
Lower mortgage rates helped lift purchase applications during 2025 and Early-Q1 2026, but that pickup still did not translate into stronger home sales.
The national price index rose ~1% yearly but lags by 3 months, so more timely home-price data is needed.
More recently, mortgage rates increased because of the war, and purchase applications were down yearly.