National Market Perspective – July 2026

The national housing market gained momentum in May as we moved into summer. Existing-home sales rose 3.2% to a seasonally adjusted annual rate of 4.17 million, supported by steady employment and resilient buyer confidence. Inventory increased modestly in many regions, giving buyers slightly more options, though supply remains constrained in competitive Northeast markets.

Mortgage rates have stabilized in the mid-6% range, remaining elevated but modestly improved from last year. Regional differences persist, with some Sunbelt markets showing supply adjustments while high-demand areas like New York continue to experience low inventory and competitive bidding.

Long Island’s coastal lifestyle, exceptional schools, and proximity to Manhattan continue to serve as powerful differentiators for discerning buyers.

Our goal is to interpret these national trends through a local lens, helping you understand how broader economic conditions connect to your home, your lifestyle, and your decisions in the Long Island market.

Long Island & NYC Market

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Long Island | Persistent Scarcity Supports Record Prices

May data shows active inventory across Nassau and Suffolk holding nearly steady at 5,987 homes—up just 16 from April but down 8% year-over-year. Months of supply remains around 3.1 months, firmly in seller-favorable territory.

Nassau County achieved a new record median price of $890,000 in May, up 9.9% year-over-year. Suffolk reached $718,500. Pending sales rose strongly to 2,465, up 12.6% year-over-year, while closed sales increased month-over-month.

High taxes, insurance costs, rate lock-in, and limited new construction continue to constrain supply. Turnkey homes in premier school districts, well-presented North Shore estates, waterfront properties, and lifestyle-oriented communities continue to attract strong interest and efficient sales when properly priced and positioned.

Manhattan | Greater Choice with Resilient Luxury Strength

Manhattan offers buyers more inventory and choice than during the tightest recent periods, with active listings around 6,791 at month-end. The broader market feels more measured, yet the luxury segment—particularly properties priced at $4 million and above—remains resilient.

May saw 146 contracts signed in the $4M+ tier, well above historical averages, with strong activity continuing into June.

Well-presented, realistically priced luxury homes continue to absorb at a healthy pace, while overpriced or poorly positioned properties take longer. Buyers now have more to compare, but quality and value still command attention and strong results.

What This Means for Long Island and NYC Buyers & Sellers

• True scarcity in the most desirable Long Island segments—top school districts, North Shore legacy estates, waterfront, and move-in-ready homes—continues to reward properly positioned properties with efficient sales and premium outcomes.
• Off-market and pre-market opportunities remain among the highest-ROI strategies for both buyers and sellers.
• Execution—thoughtful pricing, compelling presentation, and strategic timing—continues to separate good results from exceptional ones.
• Preparation and trusted local expertise give buyers a decisive edge as selection improves selectively in certain segments.

Mid-Summer 2026 Takeaways

For Long Island Sellers
Inventory has stabilized at still-low levels, giving buyers marginally more choices. However, demand for exceptional, move-in-ready homes in prime locations remains strong. Professional presentation, high-quality visuals, and credible pricing from launch remain the most reliable path to speed and maximum value.

For Manhattan Sellers
With more inventory available for comparison, properties that launch with sharp positioning, exceptional marketing, and realistic expectations maintain leverage and avoid unnecessary days on market. The luxury segment’s resilience continues to reward excellence in presentation and pricing discipline.

For Buyers (Both Markets)
Slightly improved selection in certain segments creates opportunities for prepared buyers. Success favors those who enter with clear priorities, aligned financing, and experienced advisors ready to act decisively on the right properties.

For Advisors & Investors
The structural supply shortage on Long Island remains the dominant theme heading into mid-summer. This is an opportune time to assess positioning, engage serious buyers, and leverage off-market channels while interest remains elevated.