Housing Market Reset: Affordability Improves in 2026
Update: 2025-12-02
Description
The United States housing market is anticipated to undergo a gradual reset in 2026, according to Redfin economists. This shift wont be a sudden price correction or recession, but rather a more gradual evolution. Thirty-year fixed mortgage rates are expected to slightly decrease, averaging around 6.3%, which will likely boost refinancing activity. Home price growth is projected to slow down to around 1% year-over-year, making homebuying more affordable as prices grow slower than wages. However, ongoing societal shifts, such as young adults living with roommates or parents and smaller families due to high housing costs, are expected to persist.
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