More Movement, Little Price Change: The Housing Outlook for the Rest of 2026

The national housing market may become a little more active during the second half of 2026 without producing a major change in home values.

That is the central takeaway from Zillow’s newly released midyear forecast. Zillow expects its measure of existing-home sales to increase 1.2% from 2025, reaching approximately 3.8 million sales. At the same time, it forecasts typical U.S. home values to finish the year about 0.2% lower.

What I find interesting is the combination. We could see more people moving without seeing the sharp price increase or widespread decline that often dominates housing conversations.

A market can move without making a dramatic turn

Housing activity does not require prices to surge. Transactions can increase because slightly better affordability brings some buyers back, because homeowners finally decide they have waited long enough, or because personal circumstances make a move necessary.

Those buyers and sellers may become more active while remaining careful about price and monthly cost. That produces a market with more movement, but not necessarily more urgency.

Zillow also notes that regional inventory differences are creating very different conditions across the country. That qualification is especially important when applying a national forecast to Spokane or Coeur d’Alene.

What could this mean for Spokane and Coeur d’Alene?

National numbers provide context, but they are not a local price prediction. The Inland Northwest has its own mixture of limited housing supply, changing affordability, population movement, and wide differences among neighborhoods and price ranges.

A buyer looking for an attainable single-family home may encounter more competition than someone shopping at a higher price point. Likewise, a properly priced home in good condition may attract attention quickly, while another home nearby can remain available if buyers believe its price does not match its condition or location.

That is why broad descriptions such as “buyer’s market” or “seller’s market” are often less useful than they appear. The better question is what buyers are doing within the specific segment where a home will compete.

A more measured opportunity for buyers

A nearly flat national price forecast does not necessarily suggest that buyers should wait for a large correction. It may instead create a period in which buyers have enough time to compare options, complete careful inspections, and evaluate whether the payment fits comfortably.

Some homes will still receive multiple offers, particularly where inventory remains limited. Others may offer room to negotiate on price, repairs, closing costs, or timing.

The opportunity may be found in the details of an individual property rather than in a dramatic change across the entire market.

Pricing becomes even more important for sellers

For sellers, a more balanced environment places greater weight on the initial asking price. Buyers can recognize the difference between a home that reflects current conditions and one that is priced according to an earlier market.

This does not mean sellers need to underprice their homes. It means recent comparable sales, current competition, condition, and buyer response should guide the strategy.

When price growth is limited, buyers are less likely to overlook a gap between price and value because they assume the market will quickly catch up.

The local market will tell the fuller story

Zillow’s forecast does not point toward a housing boom or a collapse. It suggests a slower adjustment in which affordability improves somewhat, sales recover modestly, and regional differences remain important.

For Spokane and Coeur d’Alene buyers and sellers, that may make the second half of 2026 less about predicting the next major market turn and more about understanding the conditions immediately in front of them.

The national numbers can set the stage. The local inventory, recent sales, and buyer activity will tell us what is actually happening.

Source: Zillow Research, July 2026 Housing Forecast

More movement and little price change may define the rest of the 2026 housing market.