What is going on in the real estate market
What’s Up with Real Estate?
National news and local views for the week ending Friday, August 28, 2026
Craig Jackson
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National Real Estate News
Prices pick up (slowly)
Case-Shiller's national home price index rose 0.1% month-over-month in June, enough to increase annual home price growth to +1.5% year-over-year (from +1.2% YoY in May). Overall, home price growth is still low, but accelerating. The strongest home price growth was in Chicago (+6.9% YoY) and NYC (+4.7% YoY). [Source: S&P Cotality]
Inflation concentration
The July PCE index (Personal Consumption Expenditures = inflation) rose 0.2% month-over-month, with "core" PCE flat at 3.3% year-over-year. That's still far above the Fed's 2% target, but most of the inflation is coming from a handful of items. If we used Fed Chair Kevin Warsh's preferred "trimmed mean" approach, inflation is running at just 2.3% YoY. [Source: BEA]
Rates hovering in high 6s
The next Fed meeting is on September 16, and several Fed members have recently gone on record saying that they think it's time to raise rates. But there's a problem with their logic: raising rates won't halt the US/Iran war or lower oil prices, nor would it solve the tech component shortage driven by the AI-boom - and that's where most of the inflation is coming from. [Source: Freddie Mac]
Local Market Trends
As of Friday, August 28, 2026
Craig Jackson
Here you can enhance your area’s housing market data with your own insights and commentary!
| Area | Median Price | Active Listings | New Listings - 5 days | Median Days on Market |
|---|---|---|---|---|
| 60448 |
$556,450
|
52
|
3 |
50
|
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