Want to keep up with the rental industry this summer? This month’s Rentec Direct industry outlook shares recent updates, events, and important information about the rental industry for July 2026.
Summer is a busy time for the housing industry. With many people moving, making home improvements, and thinking about or trying to purchase property, housing industry professionals are busy all season long. This can leave you with little time to keep up with changes in the industry over the summer. Fortunately, July 2026’s industry outlook is here to help.
This month has seen major changes in the legal side of the rental and real estate industries, with the 21st Century ROAD to Housing Act being enacted earlier this month and New York City’s highly anticipated rent freeze coming into effect. However, the housing industry continues to struggle into summer, and several industry experts have cited the reasons why. Learn about all these and more with this month’s industry outlook.
21st Century ROAD to Housing Act Becomes Law
The National Apartment Association reports that the 21st Century ROAD to Housing Act was enacted on July 11, 2026, intended to boost housing supply and reduce the barriers to purchasing houses that many people have faced. It consists of numerous provisions, including instructions for the Department of Housing and Urban Development to create guidelines for zoning that can accommodate the development of more affordable home-building procedures. Another provision increases FHA multifamily loan limits, intended to keep up with the changing costs of construction.
This law is set to make major changes to the field of rental housing and home construction, and is intended to make both much more affordable to address the housing crisis. Many industry professionals are in favor of this act, and the changes it implements are expected to impact the industry massively in the future.
Learn more: Industry Outlook | Housing for the 21st Century Act Passes House of Representatives
New York City Enacts Rent Freeze
New York City’s much-anticipated rent freeze was enacted this month, making waves in and out of the city. According to Business Insider, one-year and two-year leases in the city have had their rent frozen, effective on all leases beginning between October 1, 2026 and September 30, 2027. This freeze impacts an estimated 40% of New York City rentals, specifically apartments that are already rent-stabilized, and will be readdressed for the future next year to enact additional policies to come into effect when the current one ends.
This rent freeze is part of multiple measures being taken by New York City’s current mayor, intended to provide more affordable housing in the city. While supporters believe that it will help to ease New York’s notorious affordability crisis, critics argue that it might impact landlords’ ability to maintain the apartments.
Housing Market Continues to Struggle
Following the National Association of Realtors’ article on a notable decrease in the purchase of existing homes in June, CNBC reports on why the housing market seems to be struggling so much this summer. Quoting from NAR’s Chief Economist, Lawrence Yun, the outlets cite high mortgage rates and record-breaking median home prices for the decrease in home purchases. Pending home sales decreased by 5.4% from May to June, lower than last year and significantly lower than industry analysts expected. This follows a trend that has been seen throughout the year of home buying and rental rates cooling.
According to Robert Dietz from the National Association of Home Builders, 37% of home builders cut their prices in July, up from June’s 35%. Sales incentives also went up from 62% to 63% from June to July. This marks the 16th month straight that over 60% of builders have used sales incentives.
Learn more: 2026 Market Outlook: How to Dominate a Cooling Rental Market | Webinar Recap
New Homes are Now Cheaper than Used Homes
According to Catherina Gionio of Fortune, new homes are being sold at a lower median price than existing homes for the first time since 1974. The article reports that the median price of a new single-family home was $1,400 below the median price of an existing single-family home in the first quarter of 2026.
There are a few possible reasons for this shift, according to Alex Thomas of John Burns, including a smaller median size of new builds versus older homes. In the past ten or so years, the average new single-family home has gone down in size from 2,700 square feet to 2,400. This 300-square-foot drop has corresponded with a lower price. An additional reason may be that homeowners are less willing to lower their prices than builders, meaning that new builds will have reduced prices, while existing homes will sit on the market longer, as homeowners are often willing to wait for the market to swing back into their favor before selling.
Rentec Direct is a Finalist in the 2026 SaaS Awards
The SaaS Awards aim to spotlight the best Software-as-a-Service programs, and this year, Rentec Direct is a finalist in the 2026 SaaS Awards in the construction and property management section. Rentec Direct is one of eight finalists in its category, and the winners will be announced in early August.
Learn more: Rentec Direct Recognized Among World’s Top Software Innovators in 2025 SaaS Awards
Final Thoughts
July has been a busy month in the real estate industry, with the continued housing challenges and the broad-sweeping legal changes. However, these changes may forecast improvements for many housing providers and property investors on the horizon. Follow along with Rentec Direct’s monthly industry outlook and news articles to keep up with these developments as they occur.