Graham Stephan states that at a 6.25% mortgage rate, buying the median-priced home of $398,000 with 20% down results in a monthly payment of $1,954 before property taxes, insurance, and maintenance.

Graham Stephan states that listing prices are now lower than they were in 2024.

Graham Stephan states that a 25 basis point increase in mortgage rates would price an additional 1.4 million potential buyers out of the market immediately.

Graham Stephan states that for the first time in years, wages growing at 3% to 4% in 2026 are outpacing home price growth.

Graham Stephan states that when accounting for 2.4% inflation, a 0.3% increase in median home prices over the last year means the home lost 2.1% in terms of purchasing power.

Graham Stephan states that a home's list price is merely a negotiating point, and buyers can negotiate significantly below it in markets with dropping values, high inventory, and long market times.