Home Prices Rise 2.6% YoY Despite Expanding Inventory

Even with inventory expanding by 4.4% in July, we’re still seeing national home prices rise—up 2.6% year-over-year, bringing the median to $400,000. Sales also increased by 2.9%. The growth isn’t uniform: single-family homes saw a 2.5% bump, condos 2.3%, and townhomes 0.8%. Over my 20+ years helping families in the Western Suburbs, I’ve learned that understanding the nuances behind these numbers—whether it’s recognizing true value or assessing quality construction—makes all the difference. Market shifts like these highlight the importance of diligent preparation, careful analysis, and honest guidance when buying or selling a home.