Your June 2026 Update

June 2026

I just got my North Carolina license! After years of helping folks in Knoxville, I can now officially work with buyers and sellers across the border in Asheville too. It's exciting to expand into a market I've been watching closely, and I'm looking forward to connecting with more people in the mountains. Let's check out what the spring numbers are telling us, see what's happening nationally, and I found an interesting read about how remote work is reshaping smaller cities.

LOCAL PULSE · KNOXVILLE

Asheville Schools Face $62 Million in Critical Repairs

The Asheville City Board of Education reviewed a facilities assessment that identified nearly $62 million in needed improvements across 10 campuses, with almost half the costs attributed to critical mechanical, electrical and plumbing system repairs.

The top priority locations include Asheville High School, the district operations facility and Claxton Elementary.

The board voted 4-3 to request a 10-cent supplemental tax rate from the county to address a nearly $6 million funding gap.

The study covered 10 campuses and described most buildings as being in "fair" condition.

ASHEVILLE, NC MARKET SNAPSHOT

30-year mortgage rate ↑up from 6.51% last week	6.53%
Days on market ↑up from 47 days last year	61-122
Median sale price ↓down 3.2% vs last year	$320,000-$401,000
List to sale ratio homes selling 2-3% below list	97%

Freddie Mac PMMS + Redfin and Zillow market data, May 2026

TOP OF MIND

Scientists Discover the Oldest Wooden Tools Ever Used by Humans—430,000 Years Old

Scientists have uncovered the oldest known hand-held wooden tools ever used by humans - 430,000 years old. The discovery, led by Professor Katerina Harvati from the University of Tübingen and Dr. Annemieke Milks at the University of Reading, focuses on findings at the Marathousa 1 site in central Greece's Peloponnese region.

The study, published in the journal PNAS, describes two carefully worked wooden objects: one made from alder wood and the other from either willow or poplar. One, made from an alder tree trunk, could have been used for digging, while the other, a small willow or poplar artifact, may have been used to shape stones. The discovery pushes back evidence for this type of wooden tool use by at least 40,000 years.

The find's significance lies in what it reveals about early human capability. Wood rarely survives in the archaeological record because it rots within years, while stone tools endure, so the textbook story of early human technology is told almost entirely in stone. Waterlogged sediments at the site created low oxygen conditions that slowed decay and preserved pieces of wood that usually rot away over long spans of time.

The site also contained stone tools along with the remains of elephants and other animals, suggesting the area was once used for butchering prey near the edge of an ancient lake. The two tools were created by an unidentified hominin species that predates modern humans. Human remains haven't been found at the site yet, so it's not yet clear who used the tools - the owners could have been Neanderthals, early human ancestors, or someone else.

The discovery reshapes our understanding of early human ingenuity. Rather than relying solely on stone, our ancestors worked wood with intention and skill hundreds of thousands of years ago, crafting tools for specific tasks. These Greek artifacts now stand as tangible evidence of that ancient craftsmanship.

ScienceDaily — read

NATIONAL MARKET

Housing Inventory up 4.2% Year-Over-Year With 1.23 Million Active Listings Giving Buyers More Options

Housing inventory rose 4.2% year-over-year in May 2026, with 1.23 million active listings nationwide. This marks a meaningful shift in buyer options after years of tight supply that favored sellers. Homes are spending a median of 32 days on the market, up from 29 days a year ago, giving buyers more time to compare properties and negotiate terms rather than rushing into offers.

Existing home sales rose 0.2% in April to a 4.02 million annual pace, while median prices hit a record $417,700. Despite the price milestone, the National Association of Realtors' Housing Affordability Index jumped from 101.4 last year to 110.6 in April, signaling gradual improvement in purchasing power. Inflation jumped to 3.8% in April, the highest level in three years, which adds complexity to the affordability picture even as home prices moderate.

The housing market is heading into summer with more inventory, improving affordability, and signs of a more balanced market, but rising inflation, global uncertainty, and cautious consumer confidence are still shaping buyer behavior. Buyers have moved from a scarcity-driven market to one with actual choice, though elevated mortgage rates and economic concerns continue to influence how quickly people move through the purchase process.

Churchill Mortgage — read

WORTH KNOWING

Single Women Hit a Record: Over 20 Million Female Homeowners Despite the Worst Market in Years

More than 20 million single women now own homes, a record high, even though the homeownership rate among single women dipped from about 51.9% to 50.9%. This apparent contradiction reveals something encouraging about the housing market: the rate fell because more women formed independent households, not because fewer women owned homes. The significance of this milestone becomes clearer when considering the historical context.

Until 1974, a single woman in the U.S. could not get a mortgage without a male co-signer. Today, single women are outpacing single men in the housing market by nearly two to one, and they account for 21% of home buyers, nearly double their 11% share in 1981.

Education and income growth are fueling this trend. The share of single women with a bachelor's degree or higher has jumped from 20% in 2000 to 35% in 2025, while real median household income among single women has increased from $42,000 to $51,000. Yet the achievement comes with sacrifices: single women homeowners earn about 84 cents for every dollar earned by single men, and many make major financial sacrifices like cutting non-essential spending or delaying vacations to save for down payments.

Homeownership is significant because the typical homeowner holds roughly $430,000 in net worth compared with just $10,000 for the typical renter.

Fortune — read

Hunter2

Good House

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