Pending home sales declined year over year in August 2026 for the first time since last November. ^[1] Realtor.com, operated by News Corp, developed a methodology exclusively for The Wall Street Journal to rank the priciest college-town ZIP codes based on median listing price using July data. ^[2] Wellesley, Massachusetts, ranks as the most expensive college town, characterized by traditional homeownership where primary residents own and live in their houses rather than renting to students. ^[3] 20.4% of active listings had a price reduction in August, up 0.4 percentage points from July and level with price cuts year ago. ^[4] Summer delistings were 12.6% below last year's pace in August, with no notable spike in July or August. ^[5] The national median list price was $424,500 in August, down 1.0% from July and 1.3% from a year earlier. ^[6] Roberta Golubock, a real-estate agent with Sotheby's International Realty, noted that it is not out of the ordinary for a parent to spend $3 million or $4 million for a two- or three-bedroom condo near New York University. ^[7]