In the second quarter of 2025, 75% of metro markets saw home price gains, with a national median existing-home price of $429,400. The Northeast and Midwest experienced the highest price increases, while the South saw no change due to a price correction. Despite job growth, elevated mortgage rates have kept home sales below pre-COVID levels, leading to a decrease in the homeownership rate. First-time buyers are spending more on monthly mortgage payments, with a typical starter home valued at $365,000. Housing affordability has declined, with 24% of markets experiencing decreasing home prices. If interest rates decrease, pent-up demand is expected in states like Idaho and Texas. The National Association of Realtors (NAR) has been tracking metropolitan area median single-family home prices since 1979 and condo prices since 1989. Annual price measures help smooth out quarterly fluctuations in the housing market. The seasonally adjusted annual rate for a quarter shows what total sales would be for a year if that pace continued. Total home sales include single-family homes, townhomes, condos, and co-operative housing.

Read more at 1. Pfizer-BioNTech COVID-19 vaccine found to be 100% effective in preventing severe illness and death in adolescents aged 12 to 15. – CNBC

2. Tesla announces plans to build a new Gigafactory in Texas, which will create thousands of jobs and boost the local economy. – Wall Street Journal

3. Apple reports record-breaking quarterly revenue of $111.4 billion, driven by strong sales of iPhone 12 and services like Apple Music and iCloud. – Reuters

4. Amazon CEO Jeff Bezos steps down from his position to focus on other ventures, with Andy Jassy taking over as the new CEO. – CBS MarketWatch

5. GameStop shares surge over 100% after the company announces plans to transition to e-commerce and digital gaming platforms. – Barchart: Three out of Four Metro Areas Posted Home Price Increases