Existing-home sales and the median home price are forecast to rise 4% this year, according to the National Association of REALTORS® Chief Economist Lawrence Yun. 

Rates, jobs and long-term outlook 

Yun said mortgage rates are projected to average 6.5% in 2026. In addition, homeowners are expected to gain approximately $16,000 in housing wealth this year. 

“Homeowners will continue to build wealth, while renters are simply spinning their wheels,” Yun said. 

On the broader U.S. economy, he added the unemployment rate is expected to remain under 5%, and job gains are projected to reach 400,000 this year.  

Looking further ahead, Yun predicts the national median home price will rise from about $430,000 today to $1 million within 25 years.