Housing Market Holds Steady Amid Rising Rates | Raleigh News

Raleigh News Today | 2 Min News | The Daily News Now! · Aug 13, 2026 · 2m

Existing-home sales dipped slightly in July but edged up year over year, showing resilience despite rising mortgage rates. The 30-year fixed rate hit 6.54%, up from June but down from last year’s 6.72%—a small boost that may be encouraging buyers to act before prices climb further. While sales remain below the five-million mark needed for the year, a recent dip in mortgage rates following inflation news (core at 2.5%) could signal more relief ahead. With inventory down and median home prices still climbing for 37 months, affordability is improving fastest in the West and South—suggesting a…