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Home prices rose in August despite slower sales activity and increasing inventory.

ARLINGTON, Va.--(BUSINESS WIRE)--Sep. 22, 2026-- Homes.com, a CoStar Group (NASDAQ: CSGP) leading online residential marketplace, released its August 2026 housing market report, showing that the national median sale price reached $395,000, up 2.1% from August 2025. Home sales declined 4.3% from a year earlier, while the number of homes for sale increased 5.4% year over year.

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Prices continue to rise as buyers become more selective

The combination of rising prices, declining sales activity, and growing inventory suggests that buyers remain active but are becoming increasingly selective in the homes they choose to purchase. As a result, demand remains sufficient to support modest home-price appreciation even in a slower sales environment.

Price growth also remained widespread, although local market conditions varied considerably. Among the nation's 40 largest housing markets, 28 posted year-over-year increases in median sale prices, with Pittsburgh and Cleveland continuing a pattern of strong price performance among more-affordable Midwestern markets, while Austin and Raleigh were among the markets where prices declined under supply pressure. Those differences highlight the importance of local supply-and-demand conditions and give buyers, sellers, and agents a reminder that national trends can mask meaningful variation across individual housing markets.

Housing market conditions also varied across property types. Single-family homes continued to outperform other categories, recording the strongest price gains and the smallest decline in sales activity. The median sale price for single-family homes increased 1.3% from a year earlier to $400,000, while condominium prices rose 1.9% to $349,087 and townhome prices remained unchanged at $360,000. Sales declined across all three property types, falling 3.8% for single-family homes, 4.6% for townhomes, and 8.8% for condominiums. Inventory increased 5.8% for single-family homes, 8.3% for townhomes, and 1.8% for condominiums.

“Today's housing market is sending a clear message: buyers remain in the market, but they're becoming choosier,” said Brad Case, Homes.com Chief Residential Economist. “That pattern suggests that demand remains sufficient to support home prices, but buyers appear to be increasingly selective about the homes they choose to purchase.”

The August results point to a housing market that remains broadly balanced. Buyers have more choices than they did a year ago, yet they appear increasingly selective about the homes they purchase. If buyers continue to absorb the most attractive listings while remaining selective about others, inventory could become somewhat tighter even without a broad increase in sales activity. Under those conditions, home prices may continue to rise, but likely at a pace more consistent with the modest gains seen over the past year.

Additional market insights and reports are available at https://www.homes.com/reports/.

About Homes.com

Homes.com is the fastest-growing residential real estate marketplace and a leading destination for homebuyers, sellers, and real estate professionals. A brand of CoStar Group (NASDAQ: CSGP), Homes.com is redefining online real estate by putting agents and homeowners first through a more transparent, agent-friendly marketplace.

Unlike traditional real estate portals, Homes.com is built around a simple principle: Your Listing, Your Lead™. By connecting consumers directly with the listing agent, Homes.com helps agents win more listings, generate more leads and deliver greater value to their clients. Millions of buyers use Homes.com’s powerful search tools, rich property content, and AI-driven experiences to discover homes and connect with local real estate experts.

Backed by the largest marketing investment in residential real estate, Homes.com has invested $1.25 billion to build nationwide brand awareness, generating more than 100 billion impressions and establishing Homes.com as a household name among consumers. The platform continues to experience rapid growth, with 83 million average monthly unique visitors*, 115% year-over-year growth in organic search traffic, and more than 36,000 Member Agents joining in just two years.

Homes.com Membership gives agents exclusive marketing advantages and unmatched exposure to help grow their businesses. Based on an internal analysis of approximately 11,000 Member Agents, Members earned an average of $36,400 more in commission during their first year of membership. Members win 60% more listings and received five times more leads than non-member agents**.

For more information, visit Homes.com.

* The Homes.com Network, which includes Homes.com, the Apartments Network, and the Land Network, averaged 83 million monthly unique visitors through July 2026, according to Google Analytics.

** This figure represents an average of 11,000 agents who completed one full year of membership and is not a guarantee of future results. Individual results may vary based on market conditions, geographic location, agent activity, and other factors.

About CoStar Group

CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.

CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Zonda, a leading provider of data, analytics, software, and marketplace solutions for the residential construction industry; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.

CoStar Group’s websites attracted over 118 million average monthly unique visitors in the second quarter of 2026, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

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Media Contact:
Matthew Blocher
CoStar Group
(202) 346-6775
mblocher@costar.com

Source: CoStar Group