Supply of Existing Single-Family Homes Jumps to 10-Year High, Condo Supply to 14-Year High. Sales Slip Deeper into Deep Freeze. Mortgage Rates Rise to 6.49%

Dusty Rhodes • July 13, 2026

Sales of existing single-family homes that closed in June fell by 2.4% from May, seasonally adjusted, to an annual rate of 3.73 million sales, in the rock-bottom range that sales have been stuck in for four years, according to data by the National Association of Realtors today.

Compared to June in prior years (historical data from YCharts):

  • 2025: +3.3% (year-over-year)
  • 2024: +5.1%
  • 2023: +1.4%
  • 2022: -18.6%
  • 2021: -28.8%
  • 2019: -21.5%
  • 2015: -21.8%
  • 2009: +1.9% (Housing Bust)
  • 1996: -1.1%




Supply of single-family homes rose to 4.6 months in June, the highest since 2016.


Supply is a function of inventory and sales – how much inventory there is in relationship to demand. Sales have hobbled along rock-bottom, while inventories have been rising (historical data from YCharts).



Sales of condos and co-ops fell by 2.7% seasonally adjusted in June from May, and by 2.7% year-over-year, to annual rate of 360,000, a record low, shared also by May 2020 and May 2025, all of them the same record low in the data that go back only to late 2011.



The seasonally adjusted annual rate compared to June in prior years:

  • 2025: -2.7% (year-over-year)
  • 2021: -50.7%
  • 2019: -36.8%
  • 2012: -25.0% (first June in the data series)



Supply of condos rose to 6.4 months, along with May, June, and September last year the highest since 2012.


Sales by region of existing homes of all types.


On a month-to-month basis, seasonally adjusted, sales of existing homes (single-family, condos, and co-ops combined) in June fell in the South (-3.6%), the Midwest (-3.0%), and the West (-1.3%), and rose in the Northeast (+2.1%).


Compared to the same month in 2019, sales in June were down: in the West (-33%), Northeast (-29%), Midwest (-21%), and South (-17%). A map of the four regions is below the article at the top of the comments.


In the South, the seasonally adjusted annual rate of sales fell 3.6% in June from May, to 1,890,000 homes.

Compared to June in prior years:

  • 2025: +3.8% (year-over-year)
  • 2024: +6.2%
  • 2023: 0%
  • 2022: -17.1%
  • 2019: -16.7%
  • 2018: -16.4%



In the West, the seasonally adjusted annual rate of sales fell 1.3% in June from May, to 740,000 homes. Compared to June in prior years:

  • 2025: +2.8% (year-over-year)
  • 2024: 0%
  • 2023: 0%
  • 2022: -23.7%
  • 2019: -32.7%
  • 2018: -35.7%



In the Midwest, the seasonally adjusted annual rate of sales fell 3.0% in June from May, to 980,000 homes.

Compared to June in prior years:

  • 2025: +2.1% (year-over-year)
  • 2024: +5.4%
  • 2023: 0%
  • 2022: -20.3%
  • 2019: -21.0%
  • 2018: -22.8%



In the Northeast, the seasonally adjusted annual rate of sales rose by 2.1% in June from May, to 480,000 homes, but still just a smidgen above the record low in NAR’s data, which goes back to 1999.

Compared to June in prior years:

  • 2025: 0% (year-over-year)
  • 2024: 0%
  • 2023: -4.0%
  • 2022: -26.2%
  • 2019: -29.4%
  • 2018: -32.4%


But mortgage rates are not high; inflation is high.


The average weekly 30-year fixed mortgage rate through Wednesday ticked up to 6.49%, according to Freddie Mac’s weekly measure released today.


Mortgage rates key off the 10-year Treasury yield (4.55% at the moment), but are higher, and the spread between them varies.



Inflation accelerated to 4.2% in May, as measured by CPI, and these 30-year fixed mortgage rates are only 2.3 percentage points above the rate of inflation.


Current mortgage rates are at the lower end of the spectrum that prevailed in the decades before the Fed’s QE which started in 2009 and involved purchases of trillions of dollars of mortgage-backed securities to suppress mortgage rates and pump up home prices and create the current affordability crisis.


Mega-QE during the pandemic, which triggered the below-3% mortgage rates and the negative “real” mortgage rates (mortgage rates below the rate of inflation), was the main culprit in the explosion of home prices from mid-2020 to mid-2022, and thereby the main culprit of the “affordability” crisis since then. Mega-QE also helped trigger the worst consumer price inflation in 40 years.


The housing market – buyers, sellers, and everyone in between – needs to get used to these mortgage rates.


National median price, local prices, inflation, and wage increases.


The median price of single-family homes inched up year-over-year by 1.8% in June, not seasonally adjusted, to $446,400.


From a macro perspective, since late 2022, the national median home price has been inching up at a pace that is substantially below the rate of inflation and wage increases. That is one way to very slowly, over many years, resolve the affordability crisis that was caused by the price explosion of the national median price of over 40% in two years from mid-2020 to mid-2022 that had come on top of already high prices.


From June 2022 through June 2026, over those four years:

  • National median price of single-family homes: +6.1%.
  • Consumer Price Index (CPI): +13.2%
  • Average hourly earnings: +16.9%


But for people buying or selling a home, the national median price is irrelevant. What matters to buyers and sellers are prices in their local markets, where prices vary dramatically. Single-family home prices have dropped by 10% to 26% in 15 bigger markets, including:

  • Austin, TX: -26%
  • Oakland, CA: -25%
  • New Orleans, LA: -20%
  • Sarasota County, FL: -17%


But in some other bigger cities, prices of single-family homes have continued to rise to new highs, notably year-over-year:

  • New York City: +5.1%
  • Chicago: +3.9%
  • Milwaukee: +3.7%.


On a national scale, these diverging markets nearly balance each other out, to where the national median price of single-family homes has been up by 0% to 2% year-over-year since April last year.



The national median price of condos and co-ops rose year-over-year by 1.6%. The year-over-year readings have ranged since April last year from -0.8% (September) to +4.0% (January).


On a local basis, condo prices have plunged by 15% to 33% in 24 markets from their highs, with several markets dropping below their highs in 2006. From peak:

  • Cape Coral, FL: -33%
  • Oakland, CA: -31%
  • Petersburg, Fl: -28%
  • Austin, TX: -27%
  • Fort Myers, FL: -26%
  • Sarasota County, FL: -24%
  • Tampa, FL: -20%
  • Garland, TX: -19%.




Source: Wolf Street


Dusty Rhodes Properties is the Best Realtor in Myrtle Beach! We do everything in our power to help you find the home of your dreams. With experience, expertise, and passion, we are the perfect partner for you in Myrtle Beach, South Carolina. We love what we do and it shows. With more than 22 years of experience in the field, we know our industry like the back of our hands. There’s no challenge too big or too small, and we dedicate our utmost energy to every project we take on. We search thousands of the active and new listings from Aynor, Carolina Forest, Conway, Garden City Beach, Longs, Loris, Murrells Inlet, Myrtle Beach, North Myrtle Beach, Pawleys Island, and Surfside Beach real estate listings to find the hottest deals just for you!

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Two Big Reasons To Move This Summer

By Dusty Rhodes • June 29, 2026
A lot of people who want to move are telling themselves the same thing: “Maybe I’ll just wait until later this year once things calm down.” While waiting sounds like a good plan, there’s something worth knowing before you decide. Rates aren’t expected to change much, so if that’s the #1 reason you’re waiting, it may not pay off. And there may be other things you miss out on in the meantime. Historically, Summer is one of the strongest seasons of the year for both buyers and sellers. And if you delay your move until Fall or Winter, some of those opportunities may already be fading. Buyers: Fresh Inventory Is Your Real Summer Advantage One of the biggest frustrations buyers have faced over the past few years has been a lack of affordable options . Maybe you’ve run into that yourself: You find a house you like, but it’s out of your budget. You find something in your budget, but you don’t like it. Or worse, nothing interesting hits the market for weeks. Historically, Summer helps with that. Looking at data from the last few years, Summer months consistently bring more sellers into the market than later in the year. And that gives buyers a real window of fresh choices. According to Realtor.com , any given Summer month typically sees about 32% more fresh options than the average month from September-December.

Should You Pay for Your Buyer’s Closing Costs? What Sellers Need To Know.

By Dusty Rhodes • June 15, 2026
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How to Stage Your Outdoor Space to Sell Your Home Faster

By Dusty Rhodes • June 8, 2026
When preparing to sell your home , the outside matters just as much as what’s inside. Learning how to stage your outdoor space to sell can help create a memorable first impression, boost curb appeal, and make buyers feel emotionally connected before they even walk through the front door. From refreshing landscaping to creating cozy gathering areas, thoughtful outdoor staging can help your home stand out in a competitive market. In this Redfin guide, we’ll share expert-backed tips for transforming your yard, patio, porch, or garden into a space buyers can easily picture themselves enjoying. Whether you’re preparing a bungalow in Boise, ID , or listing a modern home in Savannah, GA , these outdoor staging ideas can help sellers create inviting spaces that feel polished, functional, and move-in ready. Why outdoor staging matters when selling a home Outdoor staging helps buyers form an emotional connection with a home before they even step inside. A clean, inviting exterior can make a property feel more cared for, while thoughtfully designed outdoor spaces help buyers imagine themselves relaxing, entertaining, or spending time outside. In competitive markets especially, those details can help a listing stand out from similar homes nearby. “Staging allows buyers to see the potential of the space and aids realtors in securing high-investment buyers,” shares Julia, CEO of JP Urban Moving . “Staging is an aspect of the moving industry that customers generally don’t consider, but it’s vital and on the rise.” Outdoor staging can also help: Create a stronger first impression during showings. Highlight usable outdoor living areas like patios, porches, and backyards. Make the home feel move-in ready . Showcase the lifestyle the property offers , not just the structure itself. Help buyers remember the home after touring multiple listings. Focus on curb appeal first Curb appeal plays a major role in shaping a buyer’s first impression of a home. Before buyers notice updated interiors or spacious layouts, they’re already evaluating the condition of the yard, landscaping, and exterior maintenance. “Ensure your home is move-in ready by maximizing its curb appeal and value through thoughtful landscape design,” suggests Fel Quinn, Marketing Director at TerraVita Landscape & Gardening Inc. “Carefully consider how the trees, shrubs, and perennials add interest while keeping the space low-maintenance. Sometimes less is more – by prioritizing strategic planting and the overall health of your landscape, you can create a welcoming space that is both well-kept and inviting.” To improve curb appeal before listing your home: Trim overgrown trees and shrubs. Refresh mulch in flower beds and garden areas. Mow and edge the lawn regularly. Keep walkways, driveways, and entryways clean and clutter-free. Choose landscaping that looks attractive while remaining low-maintenance. Create outdoor spaces buyers can picture themselves using When staging an outdoor space , the goal is to help buyers imagine how they would actually live there. A cozy patio setup, welcoming front porch, or peaceful backyard can make the home feel like a retreat rather than just another property on the market. Buyers are often drawn to spaces that feel functional, relaxing, and easy to enjoy from day one. “Think about it: It’s Friday afternoon, you just got off a busy work week, you’re dreaming of how long until you escape to your home, that peaceful haven from the chaos,” says Justin Wilson of American Irrigation Repair . “When you’re selling your house, you’re not just selling just the structure, you’re selling a vision of how a buyer feels when they step on the property.” To create outdoor spaces buyers can connect with: Arrange simple seating areas on patios or decks. Add outdoor pillows or neutral decor for warmth. Incorporate planters or flowers for natural color. Keep pathways and gathering spaces open and uncluttered. Highlight features like fire pits, gardens, or dining areas. Use lighting to make the space feel inviting during evening showings. Less clutter, more function: Keep outdoor staging simple When staging outdoor areas, simplicity often has the biggest impact. Buyers want to see spaces that feel open, functional, and easy to maintain, rather than overcrowded with furniture, decorations, or excessive landscaping features. A clean and thoughtfully arranged yard allows buyers to focus on the home itself while still appreciating the outdoor lifestyle it offers. “When staging an outdoor space to sell, focus on making it feel clean, welcoming, and easy for buyers to picture themselves comfortably living in and using the space,” says Beth Wren of Copper Creek Landscaping . “The goal is to create an outdoor space that feels polished, functional, low-maintenance, and like a natural extension of the home.” To keep outdoor staging simple yet effective: Remove broken furniture , excess décor, and unused yard items. Define seating areas without overcrowding the space. Add fresh mulch and trim overgrown plants. Highlight one or two focal points , like a bird bath or statement planting. Don’t forget the emotional connection buyers feel outdoors Outdoor spaces often leave the strongest emotional impression during a home tour. Long after buyers forget square footage or listing details, they tend to remember how a home felt – especially in areas where they can imagine relaxing, gathering, or unwinding. A thoughtfully staged exterior helps turn a property into something more personal and memorable. At its core, outdoor staging is about selling a feeling as much as a space. Buyers respond to environments that feel peaceful, cared for, and inviting, where they can easily picture everyday moments unfolding. Key emotional drivers in outdoor staging include: A sense of calm and retreat from daily stress. The feeling of a “personal oasis” or private escape. Warmth and comfort created through greenery, lighting, and layout. Subtle signals that the home has been well cared for over time. Spaces that feel ready for connection , whether with family, friends, or nature. How to stage your outdoor space to sell successfully Staging your outdoor space is about more than improving curb appeal – it’s about helping buyers imagine the lifestyle your home offers. Small updates like fresh landscaping, defined seating areas, lighting, and thoughtful decor can make your property feel more welcoming, memorable, and move-in ready. By taking the time to stage your outdoor space to sell, you can create a strong first impression that helps your home stand out to potential buyers.