A new ABC News report is raising fresh concerns about the US housing market as buyer demand continues to weaken heading into fall 2026.
Existing home sales fell to just 3.93 million in August, while months of supply increased to 4.88 months, the highest level since 2015. With sales near historically weak levels and more homes sitting on the market, sellers are starting to feel significantly more pressure in the parts of the country where inventory has surged.
And I’m seeing exactly what that looks like on the ground.
In this video, I’m in Frisco, Texas, one of America’s wealthiest and most desirable suburbs, where home prices are now falling hard. Collin County values are already down roughly 10% from the 2022 peak, while some ZIP codes have experienced declines approaching 20%.
That’s happening despite median household incomes above $180,000, highly rated schools, major corporate relocations, and years of strong population growth.
In this video, I break down:
• The new ABC News housing market report
• Why existing home sales remain near historic lows
• Why housing supply is now at an 11-year high
• Homes in North Texas down 20%+ from recent values
• Sellers making $80,000+ price cuts
• Why high-income neighborhoods are now getting hit
• How new construction is putting more pressure on prices
• Why Texas home prices could fall further in 2027
• When buyers should start making aggressive offers
• How I recently bought a house for $160,000 less than the previous owner paid
One of the biggest changes in the housing market right now is that this downturn is no longer limited to lower-income or heavily distressed neighborhoods.
We’re now seeing significant price declines in affluent areas with strong schools, high incomes, and major job growth. That’s important because many homeowners still believe their neighborhood is protected from a correction.
Texas is also showing what happens when a market continues building through a slowdown. More homes and apartments mean more competition between sellers, which ultimately puts downward pressure on prices and rents.
The big question now is how much further home prices need to fall before buyers finally return.
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If you’re buying a home or investing in real estate over the next year, make sure you understand what’s happening in your specific neighborhood. The housing market is becoming increasingly local, and the difference between one ZIP code and another can be massive.
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