Zillow's June Market Report shows signs of life for home shopping season as sales, new listings rebound
Rhea-AI Summary
Zillow (NYSE:Z) released its June 2026 Market Report, showing improving U.S. housing activity. Home sales reached 381,125, up 5.9% year over year and 9.2% from May, while new listings grew 3% annually.
Active inventory rose only 0.9% YoY to 1.39M homes, the smallest gain since December 2023. The typical home value is $372,057, up 1.1% YoY and 0.7% MoM. The typical monthly mortgage payment is $1,884, 2.5% below last year, as rates declined over 20 basis points. Typical rent is $1,965, up 2.2% YoY.
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News Market Reaction – Z
In the Jul 7 session, Z declined 0.55%, reflecting a mild negative market reaction. Argus tracked a trough of -8.3% from its starting point during tracking. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 30 | Housing trends report | Neutral | +0.5% | Zillow partnered with GoDaddy to link entrepreneurial cities and housing trends. |
| Jun 23 | Product launch | Positive | +0.6% | Launch of personalized home-buying hub and new tools for buyers and co-buyers. |
| Jun 18 | Rental market report | Neutral | +0.3% | Report on higher affordability share and rent levels with concessions data. |
| Jun 16 | Consumer insight study | Neutral | +2.8% | Paint color analysis linking room colors to higher or lower offer prices. |
| Jun 15 | Housing valuation report | Neutral | +1.0% | Report on record number of cities with $1M+ starter homes and value trends. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent Zillow news items have generally seen modestly positive next-day price reactions.
Key Terms
basis points financial
zillow home value index (zhvi) financial
nowcast technical
zillow observed rent index financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Lower mortgage costs and sales jump offer hope, even as inventory growth hits a three-year low
- Home sales jumped
5.9% from last year, according to Zillow's June Market Report, reversing May's decline. - New listings grew
3% annually after falling in May, though total inventory has nearly stalled after a long run of gains. Listing trends are diverging by price tier, with more inventory and sales for lower-priced homes. - Lower mortgage rates helped push the typical monthly payment
2.5% below year-ago levels.
Sales climbed
In another reversal from May, new listings rose
"The market wrestled with some uncertainty throughout the spring shopping season, but mortgage rates declining from their mid-spring peak has added some extra heat as we head into an already toasty summer," said Mischa Fisher, chief economist at Zillow. "While the lowest price tiers are exhibiting some softness in terms of price, they also had the most listing-activity growth, the first time since 2022 that's been the case. While the divergence in sale price is notably 'k-shaped,' affordability gains did continue in June."
Home Values & Mortgage Payments
- The typical
U.S . home value is$372,057 - The Zillow Home Value Index (ZHVI) rose
0.7% month over month in June. Home values are1.1% higher than a year earlier. - The monthly mortgage payment on a typical
U.S . home is$1,884 20% down payment and excluding taxes and insurance. That is2.5% lower than last year.
Inventory
- There were 1.39 million homes for sale nationwide in June.
- Active inventory was
0.9% higher than a year earlier. Inventory rose2% from May. - New for-sale listings totaled 403,811 in June, up
3% from a year earlier and down4.6% from May.
Sales
- 381,125 homes were sold in June, according to the preliminary Zillow sales count nowcast. That is
5.9% higher than a year earlier and up9.2% from May. These figures will be revised mid-month. - Newly pending listings, which measures listings that changed from for-sale to pending status rather than closed sales, shows
7.6% growth from a year earlier and a1.5% decrease from May.
Competition
- Homes took a median of 20 days to go pending in June. That was the same as a year earlier and two days slower than in May.
- The share of listings with a price cut in June was
25.8% . That was down from26.6% a year earlier and up from23.9% in May. 30.3% of homes sold above list price in May, the most recent data available. That's compared to31.1% a year earlier and28.3% in April.
Rents
- The typical rent nationwide is
$1,965 2.2% higher than a year earlier and up0.4% from May. 39.7% of rental listings on Zillow offered a concession in June. That's up from39.5% in May, and up from35.2% a year earlier.
Local data can be found on Zillow's market explorer. The Zillow July Market Report is expected to be released August 5.
Zillow June Market Report | ||||||||
Metro Area | Typical | Home | Home | Inventory | Sales | Typical | Rent | Rent |
0.7 % | 1.1 % | 0.9 % | 5.9 % | 0.4 % | 2.2 % | |||
1 % | 4.4 % | 1.6 % | -4.3 % | 0.9 % | 4.5 % | |||
0.2 % | 0.6 % | -2 % | 6.6 % | 0.2 % | 1.5 % | |||
1.3 % | 4.8 % | 0.6 % | 8.5 % | 0.7 % | 5.2 % | |||
0.3 % | -2.5 % | -6.4 % | 9.4 % | 0.2 % | 0 % | |||
0.2 % | -2 % | 3.5 % | 6 % | 0.3 % | -0.1 % | |||
0.5 % | 0.1 % | 6.9 % | 5.8 % | 0.2 % | 0.1 % | |||
1.1 % | 2.6 % | 8.6 % | -0.6 % | 0.5 % | 3.6 % | |||
0.4 % | -1.2 % | -14 % | 17.9 % | 0.1 % | 1.2 % | |||
0.3 % | -1.7 % | -0.9 % | -0.4 % | 0.6 % | 1.9 % | |||
0.9 % | 2 % | 12.2 % | 8.7 % | 0.2 % | 2.6 % | |||
0 % | -1.5 % | -3.4 % | 8.9 % | 0.1 % | 0 % | |||
0.4 % | 1.4 % | -15.3 % | 10.9 % | 1.7 % | 8.2 % | |||
0.1 % | -0.5 % | -7.5 % | 7 % | 0.3 % | 2.3 % | |||
1.1 % | 2.4 % | 9.2 % | 0.6 % | 0.5 % | 3.2 % | |||
0 % | -1.7 % | 14 % | -1.1 % | 0.7 % | 1.4 % | |||
0.8 % | 2 % | 15.9 % | 7.9 % | 0.5 % | 3.4 % | |||
0.3 % | 0.1 % | -5.7 % | 12.5 % | 0.4 % | 1.7 % | |||
0.3 % | -2.1 % | -9.2 % | 3.3 % | 0.1 % | -0.7 % | |||
0.3 % | -2.1 % | -7 % | 8.1 % | 0.6 % | -1.3 % | |||
0.6 % | 0.8 % | 9.5 % | 6.1 % | 0.3 % | 2.2 % | |||
1.2 % | 3.4 % | 7.3 % | 5.6 % | 0.5 % | 4 % | |||
0.1 % | -2.3 % | -5.1 % | 14.3 % | 0.4 % | 0.7 % | |||
0.3 % | -0.4 % | 8.8 % | -0.4 % | 0.3 % | 0.5 % | |||
0.1 % | -1.8 % | 3.4 % | 14 % | -0.1 % | -1.8 % | |||
0.5 % | -0.5 % | 0.3 % | 9.1 % | 0.4 % | 0.4 % | |||
0.4 % | -0.7 % | -7 % | 15 % | 0.5 % | 2 % | |||
1.3 % | 0.5 % | 10.6 % | 2.1 % | 0.4 % | 3.6 % | |||
0.9 % | 2.5 % | 10.7 % | 4 % | 0.1 % | 2.8 % | |||
0.1 % | -5.2 % | -7.1 % | 16.3 % | 0.5 % | -1.7 % | |||
-0.1 % | -3.1 % | 0.2 % | 10.9 % | 0.3 % | 0.3 % | |||
1 % | 3.8 % | 0.3 % | 5.5 % | 0.5 % | 3.4 % | |||
0.9 % | 1.4 % | 7.5 % | 22.1 % | 0.4 % | 1.5 % | |||
0.6 % | 1.1 % | 11.3 % | 14.1 % | 0.6 % | 2.5 % | |||
1.4 % | 4 % | 11.9 % | 10.4 % | 0.4 % | 4 % | |||
-0.5 % | -0.9 % | 0.4 % | 1.9 % | 1.5 % | 6.2 % | |||
0.4 % | -0.6 % | 8.3 % | 8.7 % | 0.6 % | 0.4 % | |||
0.8 % | 2.8 % | 2.9 % | 3.9 % | 0.5 % | 5.5 % | |||
1.2 % | 3.6 % | 4 % | 7.1 % | 0.4 % | 3.5 % | |||
0.4 % | -0.8 % | -14.9 % | 2.9 % | 0.5 % | 1.2 % | |||
1.3 % | 5.3 % | 6.6 % | 9.5 % | 0.5 % | 4.2 % | |||
0.5 % | 1 % | 6.4 % | 9.5 % | 0.3 % | 2.8 % | |||
0.2 % | -1.9 % | 11 % | 17 % | 0.3 % | 0.3 % | |||
0.4 % | 0.1 % | 13.5 % | -7.3 % | 0.1 % | 0.7 % | |||
0.8 % | 2.7 % | 4 % | 11.6 % | 0.5 % | 3.3 % | |||
0.7 % | 1.5 % | 20 % | 12.6 % | -0.1 % | 2.3 % | |||
0.6 % | 2.5 % | -2.6 % | 0.6 % | 0.3 % | 0.8 % | |||
0.3 % | 1.3 % | 1.2 % | 17.5 % | 0.4 % | 0.6 % | |||
1.6 % | 5.4 % | 1.5 % | 4.9 % | 0.4 % | 3.1 % | |||
1.8 % | 4.5 % | 18.6 % | -2.9 % | 0.3 % | 3.1 % | |||
0.8 % | 2.3 % | 3 % | 2.4 % | 0.3 % | 1.2 % | |||
*Table ordered by market size |
Forward-looking statements
This press release includes forward-looking statements about future housing market conditions, mortgage rates, rental trends and other economic factors. These statements are based on current expectations and assumptions, which are subject to change. Actual outcomes may differ materially due to changes in economic and market conditions. Forward-looking statements speak only as of the date of this release, and Zillow Group undertakes no obligation to update them.
About Zillow Group
Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people.
As the most visited real estate app and website in the United States, Zillow connects hundreds of millions of consumers with innovative technology, trusted agents and loan officers, and seamless digital solutions. With industry-leading tools and resources, Zillow supercharges real estate professionals so they can grow their businesses and deliver exceptional client experiences. For renters and housing providers, Zillow offers not only a robust marketplace but a set of end-to-end products and services to streamline applications, leases, payments and more.
Zillow's ecosystem spans the entire home journey — from dreaming and shopping to renting, buying, selling and financing.
Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans®, Zillow Rentals®, Zillow® New Construction, Trulia®, StreetEasy®, Out East®, HotPads®, Follow Up Boss®, ShowingTime®, dotloop® and Zillow® Closing.
All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). © 2026 MFTB Holdco, Inc., a Zillow affiliate.
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SOURCE Zillow