Pennsylvania median home prices hit an all-time high, jumping to $340,000 in June, according to the latest housing report prepared for the Pennsylvania Association of Realtors®. Home prices have increased since January and were up just over 6% compared to June 2025 when the median price was $320,000. 

This reflects the National Association of Realtors® existing-home sales report, where Dr. Lawrence Yun, NAR chief economist, noted, “The (national) median home price has reached an all-time high. Even so, affordability is better than a year ago because wage growth is outpacing home price growth. However, progress on long-term housing affordability could be hampered if inventory growth continues to stall. Without consistent gains in inventory, home prices can accelerate. It is critical to introduce more supply to the market to widen the opportunity for homeownership.”

The new highs in home values typically reflect a combination of steady buyer demand, limited housing inventory and confidence in real estate as a long-term investment. Ultimately, the increases we’re seeing in home prices show that housing remains a valuable asset.

The market saw an increase in sales, both month-over-month and year-over-year, with more than 13,000 sales in June. Sales were up more than 19% compared to May this year and were up 3% compared to the same time last year.

There were 45,870 listings on the market in June, up slightly from the previous month, but down about 3% year-over-year.

Pennsylvania is continuing to see a seller’s market, but it’s inching toward a more balanced market. The only area with less than four months of inventory is homes priced between $250,000 to $374,999. Homes priced more than $875,000 have more than six months of inventory, and those priced more than $2 million have a 15-month supply.

For homeowners, these strong prices help build equity, strengthen household wealth and provide financial flexibility. These higher prices reflect that housing remains a highly desired asset and that prospective buyers will need to plan and prepare for buying a home. As Realtors®, we know that working with a real estate professional can help consumers accomplish their dreams of owning a home.

Homebuyers may look at a home with solar panels and see benefits such as lower electricity bills and reduced environmental impact, but there are other factors to consider before buying. 

Who owns the solar system? 

Sometimes homeowners lease solar panels from a third-party company or sign a power purchase agreement, meaning they buy electricity generated by a third-party company that owns the solar panels installed on their home. 

“Mortgage underwriting guidelines require the panels to be owned before an appraiser can consider whether they add ‘contributory value’ to the property,” says the National Association of Realtors®. “If the owners took a loan to finance the system, that loan must be paid off before the home sale closes. If the solar panels are leased or tied to a PPA, you’ll be assuming a contract with a third-party solar company.” 

NAR encourages homebuyers to read any lease agreement carefully before committing, as a home with third-party solar systems will likely come with additional monthly payments, usage terms and restrictions on modifications.  

Other Considerations 

In addition to third-party lease terms and agreements, NAR advises homebuyers to be aware of: 

• The system’s age. Upgrading an old system can be costly. 
• How excess solar energy is handled. This varies by state and utility provider. In some instances, surplus power can be sold back to the grid. 
• Proper permits and inspections. Systems that aren’t permitted can cause problems for buyers and sellers. 
• Warranties. Here’s what to know about solar panel warranties. 
• Homeowner’s association rules. Buyers should confirm that there are no HOA restrictions on solar panels or future modifications. 
• Roof conditions. If the home’s roof needs to be replaced, buyers should factor in the cost of removing and reinstalling the solar panels, in addition to the cost of regular roofing. 

Affordability challenges and economic uncertainty persist across the U.S., according to the 2026 State of the Nation’s Housing report from the Joint Center for Housing Studies of Harvard University. 

Slowed Demand 

The report found that household growth slowed for the third consecutive year in 2025, falling by 15% to 1.1 million net new households. This was below pandemic averages of 2.0 million in 2020-2021 but similar to the pace of the 2010s. 

Drivers of housing demand have slowed due to several factors, including a weakened job market and a near-record-low consumer confidence level. Residential mobility also fell to a record low of 11.2% in 2024, and mortgage rates remained above 6.5% in 2024 and 2025.  

Unaffordability and Uncertainty 

JCHS reported that total housing starts fell slightly by 1% to 1.36 million last year, extending the slowdown from the pandemic-era surge. Single-family home starts fell 7% in 2025 to 940,000, down from 1 million units in 2024 and the 1.1 million-unit peak in 2021. 

While homebuilders sought to increase affordability in 2025, new home sales dipped 1%, and multifamily completions declined sharply by 20%. Still, multifamily completions outnumbered starts, suggesting continued slowdown.  

In Q1 2026, the homeowner vacancy rate was 1.1%, up from a 70-year low of 0.7% in Q2 2023, while renter vacancy rose to 7.3% from a 40-year low of 5.6% in Q2 2022.  

Additionally, in the rental market in 2024, 11 million households with extremely low incomes competed for just 3.8 million rental units that were both affordable and available, translating to just 35 accessible units per 100 households. 

Homeownership Barriers 

In February 2026, home prices rose 0.7% year-over-year, indicating cooling prices nationwide. Prices fell from 2025 in 41 of the largest markets in the U.S., compared to only nine markets in 2025. 

For the fifth consecutive year, the median sales price for an existing single-family home hovered around five times the median household income, according to the report. 

In Pennsylvania, the state’s housing report showed the median sales price was up 9.4% year-over-year in February, hitting $279,000. 

Nationwide, inventory remains 17% below pre-pandemic levels (1.67 million available in March 2019) but was up 5% year-on-year in March 2026 (1.39 million), according to the JCHS. 

In Pennsylvania, inventory is down 47% compared to 2019 with about 29,800 listings on the market in February 2026. In March, listings were up 5.6% year-over-year, according to PAR’s housing market report. 

“Home sales have stagnated,” JCHS notes. “In 2025, existing home sales were unchanged from 2024 at 4.1 million, stuck at a 30-year low that is two-thirds of the 6.1 million sales in 2021.” 

The report adds that the monthly mortgage payment on a median-priced home is $2,420, which is consistent with the record-high payments in early 2025. After conservatively factoring in estimates for mortgage insurance, property insurance and property taxes, JCHS approximates total monthly homeownership costs at $3,120. 

Moreover, the income needed to afford payments on the median-priced home was $120,800 at the end of 2025, up from $68,700 in 2020. In 169 of the nation’s largest 387 metros, the required income exceeded $100,000 (up from 31 in 2020). 

The majority of homeowners recently surveyed (61%) say homeownership anxiety has at least a moderate impact on their quality of life, but 97% still agree that owning a home is worth it, per Hippo Home Insurance. 

Homeownership-related stress can make a significant impact on homeowners’ well-being. Thirty-two percent said their home anxiety makes them feel restless or tense, 28% said it makes them lose sleep or sleep too much and 27% said it’s constantly on their mind distracting them.  

Of stressed homeowners, Gen Z and millennials are most anxiety-ridden, with 76% of them feeling moderately to extremely impacted by homeownership anxieties. This is compared to 51% of Gen X and baby boomer homeowners. 

One cause of stress is deferred home maintenance. Sixty-nine percent of homeowners said they had at least one maintenance or repair task they’ve been putting off, including: 

1. Landscaping and outdoor maintenance (47%) 
2. Cosmetic upgrades (44%) 
3. Plumbing (25%) 
4. Appliances (24%) 
5. Roof or exterior structures (22%) 

Of those putting off maintenance, 45% estimated their backlog would cost $5,000 or more to address fully. 

However, despite the stress and anxiety many homeowners feel, 97% still believe that owning a home is worth it overall. The top reasons the survey found were: 

1. Providing stability for their family (32%) 
2. Sense of stability and permanence (29%)
3. Pride of ownership and personal achievement (28%) 
4. Building equity and wealth (24%) 
5. Freedom to customize their own space (24%) (tie) 

Whether it’s to support aging-in-place plans or to create spaces that can work for everyone, accessible home designs are becoming increasingly popular, says Realtor.com. 

As many older Americans plan to age in place, accessibility and safety at home become top concerns. Even simple home modifications, like widening doorways, adding more lighting and replacing cabinet and door handles, can go a long way toward helping older homeowners age in the comfort of their own homes. 

But accessible home design isn’t just for aging in place or to accommodate disabilities – although those are things many homeowners will someday face. Accessible home design can help increase overall comfort, make everyday tasks easier and improve safety for household members of all ages. In short, it helps make lives easier and better. 

Regardless of the reason, Realtor.com offers a few easy ways homeowners can make their spaces more accessible:  

1. Clear up clutter. 

This helps limit falls, which become riskier with age but can be dangerous for anyone. Clear away clutter, skip throw rugs and organize or pack away electronics cords. 

2. Install a grab bar. 

Grab bars by the toilet, tub and stairs also help prevent falls and increase ease of movement. If DIYing grab bars, Realtor.com recommends choosing one that can hold your weight and anchoring it directly into the wall studs. 

3. Bump up lighting. 

Well-lit spaces are important for preventing falls and trips, as well as increasing overall accessibility, visibility and ease of navigation. 

4. Break up open spaces. 

Realtor.com recommends strategically placing furniture so that larger pieces can offer sturdy support and break up open expanses of floor. This can help homeowners and household members move more easily and safely through the home.  

5. Talk to an occupational therapist. 

Making a home more accessible can feel overwhelming, as there are many options available for modifications. Homeowners can turn to an occupational therapist for guidance and recommendations on how to make their homes more accessible.  

Upcoming changes to the commercial forms library were highlighted by PAR Associate Counsel Kacy Clouser, Esq., and Standard Forms Committee Vice Chair and Commercial Forms Task Force Chair Dominic Janidas, CCIM, on yesterday’s webinar. 

The following forms will be updated on Aug. 1: 

• Listing Contract Exclusive Right to Sell and/or Lease Commercial Property (Form XLSC) 
• Commercial Buyer/Tenant Agency Contract (Form CBAC) 
• Agreement for the Sale of Commercial Real Estate (Form ASC) 
• Commercial Property Information Sheet (Form CPI)

While each form includes several revisions, the webinar focused on a few key updates. Clouser and Janidas also gave special thanks to the members of the Commercial Forms Task Force, who worked diligently to develop and implement these updates. 

Form XLSC 

One notable change to the agency contracts is the addition of a new authority paragraph. Because commercial transactions often involve business entities rather than individuals, this provision is intended to prompt a conversation between the agent and the client to confirm that the individual signing the agreement has the legal authority to do so.  

Form CBAC 

An introductory paragraph has been added to Form CBAC to encourage agents to discuss the agreement with their clients and ensure they understand the purpose and terms of the contract before signing.  

Form ASC 

Form ASC has been revised to align the financing contingency more closely with the residential mortgage contingency. Buyers now have three financing options: 1) Stating that they will not be obtaining financing, 2) They have the option to obtain financing, but the contract will not be contingent upon securing such financing, or 3) The buyer is electing the financing contingency. The actual function of the financing contingency will not change if options two or three are selected. 

Form CPI 

Form CPI includes the most extensive revisions. Because the form had not been updated since 2004, it required an overhaul to modernize its content and improve usability. The form has been reorganized to create a more logical flow, making it easier for sellers to complete. Related topics have been grouped together for greater clarity. For example, rather than having electrical-related questions scattered throughout the form, the updated version includes a dedicated section for the electrical system. 

Learn More About Forms Updates 

All updated forms will be live on Saturday, Aug. 1. Until then, you can find the marked-up versions on PAR’s Standard Forms page. 

Watch the full webinar recording here, and thank you to Dominic Janidas for joining us! 

Last year, more than half (54%) of U.S. homeowners took on renovation projects, according to Houzz, which shares nine insights about home renovations. 

1. Renovation budgets are steady or rising. 

Houzz reports that the median renovation budget in 2025 was $150,000, slightly higher than $140,000 in 2024.  

2. Older generations are spending more. 

In 2025, homeowners ages 81 and older spent a median of $25,000 on renovations – more than Gen X ($24,000) and baby boomers ($22,000). Seniors also increased their renovation spending the most, nearly doubling their kitchen investments YOY ($15,000 to $27,500). 

3. Gen Z is entering the renovation ring. 

Gen Zers accounted for 0.5% of renovators in 2025, up from 0.2% in 2024. This generation is the most likely to renovate following a recent home purchase, with the focus most on interior room remodels. 

4. More renovators are using credit cards. 

Homeowners still turn to savings most frequently for their home projects, but credit card use has increased by five percentage points YOY. Now, 24% of homeowners use this payment method. 

5. Time plays a factor. 

With busy lives, 40% of renovating homeowners cited “finally having the time” as the top motivator for starting their home project. 

6. Most turn to professionals for help. 

Ninety-one percent of renovating homeowners hire professionals to complete their home improvements, and 48% also hire specialty service providers, including electricians, air conditioning/heating specialists and plumbers. 

7. Renovations take time (especially planning). 

Kitchen renovation projects had the longest timeline on average, with 9.5 months spent on planning and 5.8 months spent on construction. Smaller projects take significant time as well, with closets taking an average 6.6 months to plan and 4.3 months to construct. 

8. Homeowner budgets are flexible. 

More than a third (37%) of homeowners went over their renovation budget. Of those, 52% cited unexpected product or service costs. Moreover, 1 in 4 didn’t even set a budget. 

9. Painting is popular. 

The most popular project was painting, as 62% of renovators purchased paint for their renovations. Other common purchases included light fixtures (48%), faucets and showerheads (46%), lawn and garden supplies (44%) and building materials (41%).

Earlier this year, the average monthly rental cost for a 10 ft x 10 ft storage unit was $74.98 – the lowest it’s been in five years, according to SpareFoot. 

In Pennsylvania, the average storage unit cost per square foot is $0.83, which is significantly lower than many other states, including neighbors New York ($1.30), New Jersey ($0.99) and Maryland ($0.90).  

After surveying over 1,000 Americans, SpareFoot found that 83% have rented or are currently renting a storage unit, and 82% have been surprised when looking into pricing. On average, respondents believed $84 per month for a 10×10 unit was a fair price, with Gen Z willing to pay more ($98) and Gen X less ($78). 

The top factors that respondents reported considering when choosing storage were: 

1. Monthly price (55%) 
2. Security features (35%) 
3. 24/7 access (31%) 
4. Location/proximity (29%) 
5. Flexible lease terms (19%) 
6. Climate control (19%) (tie) 

Both homeowners and renters can benefit from lower storage unit prices, as renting an affordable unit offers a space-saving, clutter-reducing solution to having too many belongings to fit in one home. Storage units can also help people stay flexible during moves or life changes.  

The Pennsylvania Landlord and Tenant Act allows landlords to maintain a limited amount of escrowed funds for the purpose of covering a tenant’s potential non-payment of rent or “damages” to the property. One of the most common disputes between landlords and tenants at the end of a lease is whether a particular property condition rises to the level of “damages” that can be assessed against the tenant’s deposit.  

In Pennsylvania, it’s clear that landlords cannot charge tenants for “normal wear and tear” to a rental property — but that term is not actually in the law or regulations, so where did it come from and what does it mean? 

No Standardized Definition 

Reported cases debating the meaning of this phrase in Pennsylvania stretch back to the 1800s, but the modern understanding of “normal wear and tear” arose from a series of cases in the 1970s. One clear(ish) explanation of the concept says, “While the landlord has an obligation to repair damages caused by normal wear and tear, the tenant will be held liable for any damage caused by malicious, abnormal or unusual use.” 

Sure, but what does that mean? With no statutory definition in the realm of real estate, and typically no contractual definition, the courts have relied on general reasonableness and an “I know it when I see it” approach. It’s clear that appellate courts overwhelmingly defer to trial court judges who are in the position to see and hear evidence of the alleged damage to the property and make a determination based on that evidence. Trial court judges typically weigh the following types of factors: 

• The specific requirements of the parties’ agreement 
• The permitted, lawful uses of the property 
• Whether the damage appeared to be due to abuse or willful neglect of the property, or malicious or reckless destruction 
• In landlord/tenant cases, the length of tenancy 
• In residential landlord/tenant cases, the warranty of habitability 

To take a couple of easy examples, a landlord should generally not deduct from a tenant deposit to pay for things that the landlord regularly does on a certain schedule regardless of the condition of the property. If the landlord repaints the walls or shampoos the carpets after every lease or every so many years, then it’s clearly not based on anything that specific tenant did to the property, and it’s generally going to be a landlord expense based on normal wear and tear. But if the landlord needs to paint because the tenant banged some holes in the drywall during move-out or their kids drew all over the bedroom, or the carpets need to be replaced because of tenant stains and tears, then it probably becomes damages chargeable to the tenant.  

Or to make that even simpler: If it’s something that “normally” happens with the property, then a judge would probably find it to be “normal wear and tear.” 

How to Help 

Since these lines are not always clear, what can you do to minimize your client’s chances of ending up in court?  

For starters, consult with landlords about their expectations and discuss that there may be ways to meet them without relying on deposit deductions. For example, if the landlord wants to reduce their cleaning costs at the end of a lease, consider adding lease terms that require tenants to do a certain level of cleaning as they’re leaving, or charge a cleaning fee as part of the agreed-upon lease terms.  

Then, of course, make sure everything is fully documented, for every lease, all the time. The rental world is littered with dismissed claims for damages where landlords don’t have pictures of claimed damages or valid quotes/receipts for the work they are claiming needs to be done. And landlords will often run into issues where tenants claim they’re being charged for items that were done by prior occupants, which are hard to defend if there are not solid move-out/move-in reports for each tenancy. 

Reminder: Hotline Limitations 

Before you call to ask, “Who should pay for this?”, please remember that the PAR Legal Hotline attorneys cannot tell you whether a specific condition is normal wear and tear and who should be responsible for it. In fact, you’re likely to hear a response that sounds an awful lot like this article. Disputes like these will end up needing a legal determination made after reviewing all of the relevant circumstances and evidence. We’re happy to discuss the factors listed above with you, but if the parties cannot agree on what is “normal wear and tear,” then they should be referred to a local attorney of their choosing. 

Many homeowners take pride in a green and healthy lawn, but watering in the summer months can quickly drive up utility bills. Here are five ways to save money and still maintain a lively lawn, from Lawn Love. 

1. Install Smart Irrigation Controllers 

Traditional sprinkler timers run on a set schedule, watering the lawn even when it’s not needed, like after it rains. Smart systems can measure temperature, humidity and precipitation, allowing sprinklers to run only when the grass needs it. 

2. Increase Mowing Height 

“In summer, raise your mowing height by 0.5 to 1 inch to reduce water evaporation and help grass stay cooler,” Lawn Love recommends. “Taller grass shades the soil and encourages deeper root growth, so your lawn can draw moisture from deeper in the soil.” 

Homeowners can look up their grass type to find the optimal mowing height.  

3. Optimize Irrigation Schedule 

Lawn Love notes that lawns need about 1 to 1.5 inches of water per week during peak growing season, including rainfall. 

They recommend watering every other day or three times weekly. Avoid watering daily, as it encourages shallow roots that weaken grass, and aim to water between 5 and 9 a.m. 

4. Improve Soil Moisture Retention 

Soil that doesn’t hold moisture well needs more water. Homeowners should test for compaction, as compacted soil prevents water from reaching grass roots and can reduce water infiltration by three to 30 times. 

“Test by pushing a medium to large Phillips head screwdriver into the ground. If it doesn’t sink easily to the handle, your soil is compacted,” Lawn Love advises. 

5. Water Strategically 

Ideal sprinkler systems cover most of the lawn, but certain areas like slopes, under trees or corners can dry out faster. When appropriate, water only these trouble spots instead of running the entire sprinkler system.