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Home sales surged in May to the highest level since December

Markets with the Most Fortune 500 Headquarters in 2026, Total seclusion personally designed by Frank Lloyd Wright's master draftsman - John Howe.

Author

Vidit Saxena
June 22, 2026

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Latest Rates

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Loan Type

Current Rate

Day Change

1 Week

1 Month

1 Year

52-Week Range

30 Yr. Fixed

6.58%

+0.00%

+0.02%

+0.01%

-0.23%

5.99% - 6.91%

15 Yr. Fixed

6.15%

+0.00%

+0.03%

+0.08%

-0.10%

5.55% - 6.25%

30 Yr. FHA

6.15%

+0.00%

+0.03%

+0.13%

-0.20%

5.62% - 6.47%

30 Yr. Jumbo

6.81%

+0.00%

-0.02%

+0.13%

-0.14%

6.10% - 6.97%

7/6 SOFR ARM

6.30%

+0.00%

+0.08%

-0.02%

+0.01%

5.29% - 6.49%

30 Yr. VA

6.17%

+0.00%

+0.03%

+0.13%

-0.25%

5.64% - 6.49%

Date

30 Yr Fixed

15 Yr Fixed

30 Yr Jumbo

7/6 ARM

30 Yr FHA

30 Yr VA

06/19/26

6.58%

6.15%

6.81%

6.30%

6.15%

6.17%

06/18/26

6.58%

6.15%

6.81%

6.30%

6.15%

6.17%

06/17/26

6.62%

6.16%

6.80%

6.24%

6.15%

6.17%

06/16/26

6.54%

6.11%

6.80%

6.22%

6.12%

6.14%

06/15/26

6.56%

6.12%

6.83%

6.22%

6.13%

6.15%

Macro Trends

--

Still Waiting for AI to Trickle Down Link

  • Revenue per employee and profit margins are rising for the Magnificent 7 tech giants, but these metrics are falling or staying flat for small-cap companies and the rest of the S&P 500.

  • Artificial intelligence is not yet showing any signs of boosting sales or profits for businesses outside of these few massive tech firms.

  • Meanwhile, higher interest rates from Federal Reserve hikes continue to hurt smaller companies with weaker credit.

Real Estate Trends

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CRE Capital Tightens: 2Q26 Multifamily Report Link

Image

  • Higher inflation and rising interest rates are driving up borrowing costs, making it much harder for commercial real estate investors to secure capital.

  • An oversupply of new construction has stalled rent growth in Sunbelt markets, prompting most investors to expect weak growth until 2028 or later.

  • Policy and regulatory uncertainty from new federal housing legislation has forced the majority of build-to-rent investors to pause their future projects.

Home sales surged in May to the highest level since December Link

  • Sales of previously owned homes jumped 3.2% compared to both the prior month and the same time last year because mortgage rates took a slight dip.

  • Improving affordability and growing buyer demand drove the sales pace to an annualized rate of 4.17 million units, which beat expectations.

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Foreclosure Filings Dip Month-Over-Month While Annual Trend Continues Upward Link

  • Total U.S. foreclosure filings dropped 5% compared to last month, but they are still up 14% from this time last year.

  • Lenders started the foreclosure process on 27,304 properties, which is a 4% dip from last month but a 13% increase from a year ago.

  • Completed bank repossessions fell 20% month-over-month, though they remain 6% higher than they were last year.

Something I found Interesting

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Five lessons from the first half of the 2026 housing market Link

  • The market is finding its balance and normalizing instead of crashing, with resilient buyer demand matching a slow recovery in available homes.

  • Real estate is local again, as steady Midwest and Northeast cities are currently outperforming the pandemic-era boom towns of the Sun Belt.

  • Low inventory remains a huge wildcard because new listings are stuck below historical norms while contract volumes stay steady.

Location Specific

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Columbus Emerges as Midwest Tech and Manufacturing Hub Link

  • Huge public and private investments are pouring into the region, highlighted by a $28 billion semiconductor plant from Intel and a $1 billion defense manufacturing facility by Anduril.

  • Tech giants like Amazon, Google, and Meta have turned the metro area into a major data center hub with 138 operating facilities.

  • Local public funding for workforce training, lower regulatory hurdles, and strong venture capital backing have made it simple to get these large projects off the ground.

AI & Real Estate - Today’s Trends

—-

Tool of the day: SqaurePlan

SquarePlan removes months from commercial leasing process by automating fit out valuation and space planning.

1 in 2 home shoppers open to buying without human help link

A rapid shift in consumer sentiment reveals that over half of prospective U.S. buyers are now comfortable purchasing a home without direct human involvement, driven largely by an overwhelming willingness to trust AI with highly personal mortgage and financial calculations.

Rechat opens platform to brokerages; Land id integrates Canva link

By shifting to an open ecosystem, these platforms enable U.S. brokerages to seamlessly embed custom, proprietary AI workflows directly into their existing mapping and agent marketing tools.

Proptech Startups That Just Got Funded

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Pro Member Only Content Below

Most of the insights below stem from extra research and include content from paid sources and special reports.

This Area’s Office Leasing on Pace for Best Year Since 2000 

(This content is restricted to Pro Members only. Upgrade)

Global Data Center Trends 2026 

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Senior Housing Growth Faces Headwinds Despite Strong Demand 

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The bigger the better: mega warehouses lead industrial

(This content is restricted to Pro Members only. Upgrade)

Multifamily Repricing Wave Leaves Deepest Mark On Lower Tier Sun Belt Assets 

(This content is restricted to Pro Members only. Upgrade)

Proptech Startups That Just Got Funded

(This content is restricted to Pro Members only. Upgrade)

Off Topic

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Markets with the Most Fortune 500 Headquarters in 2026

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Unreal Real Estate

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Total seclusion personally designed by Frank Lloyd Wright's master draftsman - John Howe.

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Vidit

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