According to the National Association of REALTORS (NAR) Pending Home Sales Report, pending home sales in September decreased by 7.3% month-over-month and 11.3% year-over-year. All four major U.S. regions declined, with the West seeing the largest drop. The South followed close behind, followed by the Midwest and Northeast. “Market conditions weakened in September due to fast-rising mortgage rates,” said NAR Chief Economist Dr. Lawrence Yun. “Although job growth and income gains can support home purchases, housing affordability is more affected by changes in mortgage rates. Given that mortgage rates have…
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Finding the silver lining in a high-rate housing market
According to a new report from Redfin, U.S. pending home sales dropped 4% month-over-month in September, hitting their lowest level since spring 2014. Pending home sales also fell across all major metros. This seems tied to mortgage rates rising over 7%; the last time this happened was in 2023, the last time mortagage rates hit that high. However, there is a major advantage for builders that can offer incentives to buyers, many of whom are searching and are serious, looking to move out of necessity. “It’s not surprising that when…
Read MoreThe silver tsunami could solve nation’s housing inventory
According to the Generational Housing Succession report from Realtor.com, an estimated 13.9 million homes currently occupied by baby boomers and the Silent Generation will be released from owner-occupancy between 2026 and 2036. If 45% of the homes projected to be released in 2027 become for-sale listings, that would be enough to restore annual listings to pre-pandemic levels. This wave is known as the silver tsunami. While the silver tsunami is good news for sidelined homebuyers and for the nation’s housing inventory, the effects will be spread across markets at a…
Read MoreCalifornia home sales rebound forecasted for 2027
California’s housing market is expected to bounce back according to a new forecast from the CALIFORNIA ASSOCIATION OF REALTORS(C.A.R.). The association expects that sales of existing single-family homes will increase 3.7%. Contractors and remodelers can expect faster turnover of older homes and increased demand for upgrades. The median home price is also expected to grow, up 1.4% to $894,400. With California in particular facing tight supply, the demand supports the continued home price elevation from $875,600 in 2025. “We’ll start to see market conditions move in a more positive direction for…
Read MoreWhat September’s construction employment means in the Carolinas
According to an analysis by the Associated Builders and Contractors (ABC) of the Carolinas, construction employment in September 2026 sent a focused message, not a broad-market one. The construction sector added 11,000 jobs last month, matching the industry’s recent pattern of modest but steady hiring. Residential construction growth remained softer, while nonresidential specialty trade contractors added 12,000 jobs. According to Redfin data, in August 2026, home prices in North Carolina were down only a slight 0.41% compared to last year, selling for a median price of $373,465. Meanwhile, in August…
Read MorePrice cuts surge, sidelined buyers emerge
Sellers slashed home prices in September 2026 in response to rising mortgage rates, prompting potential homebuyers to emerge from the sidelines. According to the latest Realtor.com monthly housing market trends report, the share of listings with price cuts exceeded 2025 levels for the first time in 2026, reaching 20.8%, up 0.9 percentage points year over year. This surge in price cuts aligns with broader housing market shifts, such as accelerating inventory growth and decreasing pending home sales. “Demand rarely picks up much this time of year regardless, but the rate environment…
Read MoreFed raises rates for the first time in 3 years
On Sept. 16, 2026, the Federal Reserve increased its benchmark interest rate target range by 25 basis points to 3.75%–4.00%. This bump is not a shock, as many economists predicted the Fed would increase rates to combat rising inflation. However, this is the first rate hike since July 26, 2023. The unanimous decision to raise rates is the first real movement in nearly a year, holding steady throughout 2026 after the last cut in December 2025. Federal Reserve Chairman Kevin Warsh described this decision in the post-decision press conference as a…
Read MoreMilwaukee sees biggest increase in pending home sales
As of Aug. 30, 2026, pending home sales remained essentially unchanged from the prior week, down 0.1%. The metros with the biggest year-over-year increase in pending home sales were Milwaukee at 8.8%, Virginia Beach, Va. at 3.4%, Cincinnati at 3.2%, Chicago at 2.9% and Montgomery County, Pa. at 2.8%. As of Aug. 28, touring activity was up 7% from the start of the year. This time last year, touring activity was up 22% from the start of 2025. Meanwhile, new listings of U.S. homes for sale rose 2.1% from a…
Read MoreWhy the largest generation is choosing to stay and renovate
Baby boomers, ranging from 60 to 80 years old, are America’s largest group of both homeowners and homebuyers. According to recent Redfin data, this generation holds nearly twice the share of large homes compared to millennial families with small children, but the reasoning is not what we would expect. Baby boomers are choosing to stay in their homes and upgrade due to an increase in multigenerational living. With rising economic costs, a difficult job market and a competitive housing economy, young adults are either struggling to move out of their…
Read MorePent-up demand expected to elevate pending home sales
According to the National Association of REALTORS (NAR) Pending Home Sales Report, pending home sales decreased by 2.3% month-over-month in July 2026. Year-over-year, pending home sales decreased by 2.2%. The Midwest, however, experienced growth in pending home sales, with a 1.7% increase year-over-year. NAR Chief Economist Lawrence Yun said that there is still hope for the coming years. “Job gains should bring more buyers into the market, especially if mortgage rates stabilize or decline, though that impact takes time to show up,” said Yun. “Right now, pending contracts are 30%…
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