Home Prices Rise 2.6% YoY Despite Expanding Inventory

Even with more homes on the market, we’re seeing national home prices continue to climb—up 2.6% year over year, reaching a median of $400,000 in July. Home sales also saw a bump of 2.9%, and inventory grew by 4.4%. What’s interesting is how this growth plays out across property types: single-family homes grew by 2.5%, condos by 2.3%, and townhomes by 0.8%. After more than two decades working throughout Lake, McHenry, and Cook Counties—and southern Wisconsin—I've seen firsthand how local market dynamics can differ from national trends. If you’re weighing options in our area, it’s always worth looking at not just the numbers, but what they mean for your next move or investment.