US home prices fell 2.5% year-over-year to a median of $430,000 in June 2026, marking the eighth consecutive monthly decline and the sharpest annual drop since 2017, according to Realtor.com. At an average mortgage rate of 6.49%, a buyer with a 20% down payment would save about $132 per month compared to a year ago, but experts say most of that relief comes from slightly lower rates rather than the price drop itself. Rising property taxes and insurance premiums are eroding those savings, with ongoing ownership costs often outweighing the one-time benefit of a lower purchase price. Real estate professionals advise buyers to budget for the full cost of ownership, including maintenance, HOA dues, and location-specific insurance, rather than focusing solely on the listing price.