An optimistic forecast for the housing market, a little state with a big property tax burden, and a new book for kids who are about to move to a new neighborhood. From the wild and wooly world of real estate, here are our Hits and Misses for the week of June 15-19.
Hit: A Bright Tomorrow. Lawrence Yun, the chief economist of the National Association of Realtors (NAR), is predicting home sales will improve during the second half of this year. In a presentation this week before the Residential Economic Issues and Trends Forum at the 2026 Realtors Legislative Meetings, Yun also forecast a 4% increase in existing home sales this year, along with a 4% rise in the median home price also climbing 4%. Yun also predicted that the typical homeowner would gain approximately $16,000 in wealth this year from their property. However, he also believed mortgage rates will average 6.5% for the coming six months. On the bigger picture, Yun stated there will not be a recession this year, thanks in large part to strong business investment in artificial intelligence and data centers. That’s all very encouraging, of course, and let’s keep our fingers crossed that 2026 wraps up without any unwanted nasty economic surprises.
Miss: A Cloudy Today. When Yun’s forecast looks to tomorrow’s housing market, the 2026 State of the Nation’s Housing report from Harvard University’s Joint Center for Housing Studies considers the issues that are creating a burden on today’s environment. Anyone who has been paying attention to current trends will not be surprised by the report’s findings: subdued activity based on weak demand resulting from high costs and supply shortages. The report points to a few states that have tried to juice their housing markets with relaxed regulatory barriers and financial interventions such as revolving construction loans. It is a little surprising to see the report blaming “severely restricted immigration and increased deportations” for weakening housing demand – this ignores the fact that such actions are needed to reverse Biden-era open borders chaos that damaged large sections of the housing market.
Miss: The Pulte Patrol. Our good buddy Bill Pulte was back in the news this week with his call for Congress to expand the authority of the Federal Housing Finance Agency (FHFA) to include enforcement powers. Instead of continuing in its current structure of referring suspected mortgage fraud to appropriate state or federal enforcement, Pulte’s FHFA wants to do the job itself – in short, why should the Department of Justice have all the fun with indictments, handcuffs, and perp walks when the FHFA is chomping at the bit to take on enforcement duties. Mercifully, Pulte has made so many enemies on both sides of the political aisle that this bad idea isn’t going to receive a minute’s consideration on Capitol Hill. But it is not likely that Pulte will lose sleep over this snub. After all, the just began his new role as Acting Director of National Intelligence – and who wants to bet how long it will take before something zany arises from Pulte’s spy-catching shenanigans?
Hit: Coming Soon. This week, the US Senate voted 87-8 to advance the 21st Century Road to Housing Act. A full vote is expected next week. The 381-page bill has ping-ponged back and forth between the Senate and House of Representatives and it features 45 provisions that supporters claim will expand the nation’s housing supply. President Trump indicated he would sign the bill, which would provide a very rare case of both parties and the Legislative and Executive Branches working in some degree of common ground. Of course, whether the bill actually results in new houses being built remains to be seen.
Miss: Little State, Big Property Taxes. Rhode Island is the nation’s smallest state, but when it comes to property taxes it is 22% above the national average. A study by the Rhode Island Public Expenditure Council (RIPEC) found the state’s homeowners shouldered the tenth-highest property tax levels in the nation, at $2,505 per capita in FY 2023. And roughly one in five localities exceeded the state’s mandated 4.0% levy cap. According to the RIPEC report, “FY 2026 marked a significant acceleration in property tax increases following several years of comparatively modest growth. The statewide municipal tax levy increased by 3.7%, or $98.3 million, in FY 2026, the largest increase in 10 years and above projected inflation (2.8%).” Hat-tip to Go Local Prov for sharing that unfortunate news from the Ocean State.
Hit: Required Reading for Youngsters Relocating. A thumbs up goes to Stacia Ehlen, a realtor in Gilbert, Arizona, who authored a new children’s book designed for youngsters whose families are packing up and moving to a new home. Ehlen’s “Big Move, Big Adventures” is designed to help its young readers understand the emotions they experience when they are uprooted from their familiar surroundings and separated from their schools, friends and family. Ehlen’s book was inspired by her 20-plus years helping families buy and sell homes, and she stated in this ABC15.com interview that she hoped the book will inspire children to see a move as the start of a wonderful new adventure.
Miss: Next Time, Be Pleasant! Mississippi real estate agent Robert Bruckner became infamous on the Internet thanks to a viral video where he was seen angrily confronting a young father who accompanied his two daughters into an empty women’s restaurant in an Alabama QuikTrip gas station. Bruckner blocked the restroom door while calling the police on the father, whose daughters became visibly upset over the encounter. The store manager intervened, and the police officers who arrived at the scene ordered Bruckner to leave. Online denizens were able to identify Bruckner, and the backlash from his boorish behavior was so great that his employer, Overstreet Properties, issued a statement announcing he was not working with them anymore. Hey, you can probably complete the old saying that Bruckner obviously forgot: “If you can’t say something nice…”
Phil Hall is editor of Weekly Real Estate News. He can be reached at [email protected].
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