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 listing prices are now lower than they were in 2024.

Graham Stephan reports that the average home is now taking the longest time to sell in over a decade.

Graham Stephan reports that according to Standard & Poor's, national home prices grew just 1.3% for the year across the largest 20 cities in America, which is the weakest full-year gain since 2011 when prices fell 3.9%.

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.