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July 16, 2026

Oct 6
2 min read

New housing law targets affordability — what it means for homebuyers and sellers

CNBC

The 21st Century ROAD to Housing Act automatically became law on Saturday after President Donald Trump neither signed it nor vetoed it within a set timeframe. The legislation combines dozens of housing measures aimed at encouraging home construction, expanding access to financing and restricting purchases by large institutional investors.




California home sales rebound in June as home prices moderate

CALIFORNIA ASSOCIATION OF REALTORS®

California home sales rebounded in June as buyers returned to the market despite elevated mortgage rates, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).


Sales of existing single-family homes reached a seasonally adjusted annualized rate of 279,880, according to C.A.R. That's the equivalent of how many homes would sell over the course of a year if June's pace held steady, adjusted for normal seasonal patterns.

Compared to May, sales were up 4.1%, and they climbed 6% from June 2025.


After reaching an all-time high in May, California's statewide median home price eased in June but remained above the $900,000 mark for the third consecutive month. The statewide median price declined 2.8 percent from May's record level of $930,260 to $904,640 in June, deviating from the historical average gain of 0.8 percent typically observed between May and June.



New California ballot measure would make buying a home more attainable

RISMedia

Voters will be deciding on a ballot measure in November that could make the dream of buying a home for lower- to middle-class Californians more within the realm of possibility — at least in some parts of the state.


Proposition 37 would give qualifying residents a second mortgage option that would be administered by the state, which would essentially be a new pot of money to borrow from. The initiative would reduce the required down payment to 3% of the purchase price and allow buyers to borrow the remaining 17%, at a fixed rate that’s still to be determined.



Foreclosures climb 21% in first half of 2026

Housingwire

U.S. foreclosure activity rose again in the first half of 2026, with 227,548 properties receiving filings, up 21% from the same period in 2025, according to ATTOM’s midyear foreclosure report released Thursday.


The report — which tracks default notices, scheduled auctions and bank repossessions — shows total foreclosure filings are also 28% higher than in the first half of 2024. ATTOM CEO Rob Barber said in the company announcement that the market is “gradually returning to more typical patterns,” even as the data points to growing financial stress for some homeowners.



Average 30-year US mortgage rate climbs to 6.55%, highest level in nearly a year

Associated Press

The average long-term U.S. mortgage rate climbed this week to its highest level in nearly a year, driving up borrowing costs for prospective homebuyers.


The benchmark 30-year fixed rate mortgage rate rose to 6.55% from 6.49% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.75%.

Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers’ purchasing power at a time when affordability challenges continue to sideline many aspiring homeowners.


 
 
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