Today's Market News:
Happy 250th Independence Day!
The spirit of freedom lives on, in our country and in our hearts. May your July 4th celebrations bring you together with family and friends as we remember the history of our country.
Home Prices Hit Record High in May
Home prices rose to a new record high in May, even as annual appreciation remained below 1% for the ninth straight month. National home prices rose 0.3% from April to May 2026 and were up 0.7% from a year earlier. These and other findings are from First American Data & Analytics' recent Home Price Index.
Mark Fleming, chief economist at First American Data & Analytics, stated that rising home values were the result of inventory shortages instead of rising buyer demand.
Among major metro areas, Chicago posted the strongest overall annual home price growth at 6.2%. The Windy City was followed by Pittsburgh (+2.6%), Cambridge (+1.9%), New Brunswick (+1.7%) and Anaheim (+1.6%).
On the other end of the spectrum, Denver saw the biggest decrease in home price growth (-2.5%), followed by Orlando (-2.2%), Las Vegas (-2.1%), Tampa (-2.0%)
and Oakland (-1.7%).1
Luxury Home Price Increases Outpace Others by 3x
Not all potential buyers are challenged by rising property prices. Wealthy buyers are more active as they're less sensitive to fluctuating mortgage rates.
The median U.S. luxury home* sale price rose 4.7% year-over-year to $1.37 million during the three-month period ending May 31st — more than triple the 1.5% gain in non-luxury sale prices seen during this timeframe. However, pending home sales of the most expensive properties rose by 5.2% annually.
Luxury sales are rising fastest in San Francisco, largely due to the AI boom, followed by Nashville, San Diego and the Tampa and Miami metro areas. A nine bedroom Indian Creek mansion was sold to Mark Zuckerberg for $170 million earlier this year, setting the record for the most expensive home sold in 2026...so far.
*A luxury home is defined as a property priced in the top 5% of homes in its metro area.2
Flooring For 2026: Gray is Out, Patterns are In
Knowing which flooring trends are becoming popular this year — and which are fading — can help your sellers prepare their homes for viewing. Here are three that are on their way out.
Gray laminate floors were popular between 2010 to 2020. This color trend wasn't limited to floors and was dubbed "Millennial Gray." However, it now appears drab, especially when compared to this year's popular darker tones.
Top-end vinyl flooring was popular for years, as it stood up to adverse weather conditions that were tracked inside. However, today's buyers would rather pay for flooring with better scratch resistance that will last longer.
High-gloss finishes photograph well for your MLS listing but keeping them shiny can be a bigger task than most buyers realize. They may also be slippery and increase fall risks.
For sellers planning to replace their home's flooring before listing, here are some suggestions you may want to share.
Patterned carpet is back as it provides a comfortable, relaxing atmosphere. For example, a honeycomb pattern reflects the popular theme of bringing nature indoors.
Tiled entryways can make the type of first impression that leads to sales. Homes with hand-painted tiles are popular.
Wood floors have maintained their popularity for decades, and buyers can apply their choice of matte or satin finishes. They're also easy to keep clean.3
Homeowners More at Home Than Renters
- More homeowners than renters felt that their current home is a reflection of who they were, and that they'd rather be at home than anywhere else.
- More homeowners felt at home in their neighborhood than anywhere else.
- While most renters (57%) considered their homes "just a place to live", equal numbers of renters and homeowners admitted that they could only get a good night's sleep at home.
Sources: 1nationalmortgageprofessional.com, 2redfin.com, 3nar.realtor, 4redfin.com,
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