Downriver Housing Market: the current report
Here's the honest read through July 2026 — from the national headlines down to your street. Mortgage rates crept up instead of down, the national median eased off its June record, and through all of it Downriver stayed what it's been: affordable, tight on inventory, and a seller's market in nine of the ten core cities. Romulus is the one that changed.
With July's numbers in, it helps to zoom out before we zoom in. So this report walks down the ladder: the national picture, then Michigan, then Downriver city by city — plus what happened with mortgage rates from January to now, and what the major forecasters expect for the rest of the year. Real numbers, sourced and dated. No hype, no doom — just the read I'd give you at my kitchen table.
The national picture (July 2026)
The July data from the National Association of REALTORS® shows a high-priced, slow-moving market — not a boom, not a bust:
- Prices held up year over year. The national median existing-home price was $434,100 in July — up 2.0% from a year earlier. It stepped down from June's $440,600 record, which is the normal summer roll-off in a non-seasonally-adjusted median, not a price decline.
- Sales cooled month to month, but held up year over year. Existing-home sales ran at a 4.06 million annual pace — down about 1.7% from June, yet still roughly 0.7% ahead of July 2025.
- Inventory stayed tight. About 1.54 million homes were for sale — a 4.6-month supply, unchanged from June and from a year ago, and still below the 5–6 months that signals a balanced market.
Source: National Association of REALTORS® existing-home sales report, July 2026 data (released August 11, 2026).
Where Michigan and Wayne County stand
Zoom in one level and Michigan looks far healthier on affordability than the country as a whole. The most useful local benchmark isn't the statewide figure — it's Wayne County, which is where Downriver actually sits:
- Wayne County median sale price: $230,000 in July 2026, up 2.3% year over year — a little more than half the national median.
- Wayne County closed sales: 1,647 in July, down about 1.9% from July 2025.
- Metro Detroit pace: homes averaged about 25 days on market, up from 21 days in July 2025 — still fast by national standards.
- Statewide context: Michigan's typical home value was $269,576 as of July 31, 2026, up 4.0% year over year. That's an index of typical value rather than a median sale price, so it isn't directly comparable to the figures above — it's here for direction, not for math.
Sources: Wayne County and Metro Detroit figures from the RE/MAX of Southeastern Michigan housing report, July 2026 (published August 10, 2026); statewide typical value from the Zillow Home Value Index, as of July 31, 2026. County and state figures blend high-cost areas with affordable ones, so your city number is what actually matters.
How Downriver compares
Now the part that matters for us. While the national median sat at $434,100 and Wayne County's at $230,000, every one of Downriver's ten core cities came in below the national number — though six of the ten now price above the county median. Here's July, straight from the MLS:
Median sale price: Downriver vs. Michigan vs. the U.S.
July 2026 · single-family homes · bars scaled to the U.S. median ($434,100 = full width)
Brass bars are the U.S. and Wayne County benchmarks; charcoal bars are Downriver cities. Sources: Realcomp II Ltd. (Downriver, closings through July 2026), NAR (U.S., July 2026), RE/MAX of Southeastern Michigan (Wayne County, July 2026).
And here's the full city detail — median, three-year appreciation, days on market, and homes sold:
| City | Median (July 2026) | Appreciation/yr (3-yr) | Avg Days | Sold (90d) |
|---|---|---|---|---|
| Brownstown | $362,333 | +4.3% | 14 | 69 |
| Woodhaven | $312,450 | +4.8% | 5 | 23 |
| Riverview | $308,000 | +2.9% | 28 | 25 |
| Trenton | $276,500 | +4.9% | 17 | 52 |
| Allen Park | $250,000 | +7.2% | 14 | 93 |
| Southgate | $234,000 | +5.3% | 24 | 102 |
| Wyandotte | $220,000 | +5.7% | 32 | 71 |
| Romulus | $220,000 | +5.8% | 29 | 51 |
| Taylor | $192,500 | +5.9% | 25 | 147 |
| Lincoln Park | $164,000 | +6.1% | 31 | 109 |
Source: Realcomp II Ltd. · single-family homes · closings through July 2026, pulled August 1, 2026. Figures revise as sales report. Click any city for its full report.
Across all 18 Downriver communities I track — not just the ten core cities — the sales-weighted median was $249,923 with 924 homes closed in the last 90 days, an average of 25 days on market, and 1.95 months of supply. That wider figure sits on 3,349 closings over the trailing twelve months, which is why it barely moves when individual sales revise. It is the most reliable number on this page.
The rate story: rates rose, they didn't fall
Here's where the mid-year reality surprised a lot of people. Coming into 2026, plenty of forecasters expected mortgage rates to drift toward or below 6%. Instead, they did the opposite — they climbed. The Freddie Mac 30-year fixed started the year at 6.16% and worked its way up to 6.67% for the week of August 13, 2026, after touching 6.69% the week before — the highest reading since August 2025:
Freddie Mac fixed mortgage rates: January vs. August 2026
Weekly average · bars scaled to a 7% ceiling
Brass = January, charcoal = August. The 30-year fixed is up about half a point year to date, staying in the mid-6% range throughout. Source: Freddie Mac Primary Mortgage Market Survey, weeks of January 8 and August 13, 2026.
It's a modest move on paper, but it matters: on a $250,000 loan, going from 6.16% to 6.67% adds roughly $84 a month in principal and interest. That's exactly why sales stalled a bit month to month — buyers here are sharp about affordability, and small rate moves change what people are willing to do.
What the forecasters expect for the rest of 2026
You asked the right question: does anyone official have a read on the back half of the year? They do — and it's worth seeing how much those forecasts have shifted since January.
- The January outlook was optimistic. Late in 2025, NAR projected existing-home sales would jump about 14% in 2026 with prices up ~4% and rates near 6%. Fannie Mae, at the time, saw rates ending 2026 closer to 5.9%.
- The current outlook is more cautious. In its July 2026 forecast, Fannie Mae expects the 30-year fixed to end 2026 near 6.2% and hold in the low 6s through 2027 — and total home sales up just 0.2% for the year, not 14%.
- Prices are still expected to rise, gently. Fannie Mae's July forecast has national home prices up about 2.3% in 2026 and 1.0% in 2027 — cooler than the double-digit years, but still positive. Worth noting: Downriver's three-year pace of 3–7% a year has been running ahead of the national forecast.
Sources: NAR 2026 forecast (November 2025); Fannie Mae Housing Forecast, July 2026 (issued July 10, 2026).
The honest translation: don't bet your plans on rates dropping. The people whose job it is to forecast this have walked back the "rates will fall to 6%" story. Could rates ease if the economy softens? Sure. But planning around a forecast is how people get stuck. Plan around your numbers instead.
What this means for you
If you're buying
A seller's market means be ready, not scared. Get fully pre-approved, know your must-haves, and be prepared to move on the right home in days. Downriver's affordability gives you more house for your money than almost anywhere in metro Detroit — and waiting for rates to fall may mean waiting a long time. Lowball offers don't win here; strategy does.
If you're selling
You have real leverage — but only if you price to today's comps, not last spring's peak or a national headline. Even in a hot market, an overpriced home sits, and a home that sits loses power. Priced right and prepped well, low inventory works in your favor.
The bottom line
This is a record-price, mid-6s-rate, tight-inventory national market — steady, not spectacular. Downriver sits well below that national number: even Brownstown, our priciest core city, runs about $72,000 under the national median. That’s our advantage: it keeps us a seller's market with real long-term appreciation, even when the national mood turns cautious. Whether that's good news or a hurdle depends entirely on your situation — which is why there's no substitute for a real number and a real plan for your home. That's exactly what I'm here for.
Downriver market questions people ask
Is Downriver, Michigan a buyer's or seller's market right now? +
As of July 2026, nine of Downriver's ten core cities are seller's markets — tight inventory, fast sales, and prices holding firm, with 3-year appreciation running roughly 3–7% per year by city (Realcomp II Ltd., closings through July 2026). Romulus is the exception: at 3.0 months of supply it has moved into balanced territory, which gives buyers there real negotiating room. Conditions still vary block to block, so the honest read for your specific home is part of a free Annual Equity Review.
How do Downriver home prices compare to the national and Wayne County medians? +
Downriver is well below the national number. In July 2026 the national median existing-home price was $434,100 (NAR, released August 11, 2026) and Wayne County's median was $230,000 (RE/MAX of Southeastern Michigan, July 2026). Downriver's July medians ranged from $164,000 in Lincoln Park to $362,333 in Brownstown (Realcomp II Ltd.) — so even Downriver's priciest core city sits about $72,000 below the national median, while six of the ten core cities price above the county median.
Did mortgage rates go up or down in the first half of 2026? +
They rose. The Freddie Mac 30-year fixed rate started the year at 6.16% for the week of January 8, 2026 and climbed to 6.67% for the week of August 13, 2026 — after touching 6.69% the week of August 6, the highest reading since August 2025. The 15-year fixed moved from 5.46% to 5.96% over the same stretch. Rates have stayed in the mid-6% range all year, higher than many forecasters expected in January (Freddie Mac Primary Mortgage Market Survey).
What are experts forecasting for housing for the rest of 2026? +
As of its July 2026 forecast, Fannie Mae expects the 30-year fixed rate to end 2026 near 6.2% and hold in the low 6s through 2027, with total home sales up only about 0.2% for the year and national home prices up about 2.3%. That is more cautious than the late-2025 forecasts, when NAR projected roughly a 14% jump in sales and rates near 6%. No one predicts rates precisely, so the smart move is to plan around your own numbers.
Will home prices fall in Downriver in 2026? +
A meaningful drop looks unlikely here. Downriver's affordability and tight inventory tend to cushion the market even when national headlines turn negative, unlike overbuilt markets with lots of supply. Prices could flatten if rates spike, but the structural demand for affordable Downriver homes is a real backstop.