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 MoreCategory: Economy
Why 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%…
Read MoreRemodeling spending outpaces the rest of residential construction
New data from the U.S. Census Bureau indicated that private residential spending decreased by 0.03% in June. Remodeling and home improvement was the only sector to increase in June, but only by 0.01%. In May, the remodeling sector contributed to the overall bump in construction spending. It was then revised to a 0.4% decline. Compared to a year ago, private spending for remodeling is down 7.2%. Despite the decrease, overall sentiment for remodeling remains positive with continued demand. “In contrast, improvement spending has been on an upward trend since 2023, supported…
Read MoreExisting home sales rise in metro markets
According to the National Association of REALTORS’ latest quarterly report, home prices rose in 80% of metro markets during the second quarter of 2026. The report also showed the national median single-family existing-home price rose 1.5% year-over-year to $434,900, up from 0.5% annual growth in the first quarter. “Home sales increased despite mortgage rates rising. This testifies to the potential housing demand building up from steady job and income gains,” said NAR Chief Economist Dr. Lawrence Yun. “Sales rose in three of the four major regions, with the South leading…
Read MoreFederal Reserve holds rates steady for fifth consecutive month
The Federal Reserve in its July policy meeting decided to hold interest rates at 3.5% to 3.75%. This comes amid elevated inflation rates, which were attributed to supply shocks. This is also the Fed’s fifth consecutive hold; the last rate cut was in December 2025. “The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal Reserve’s dual mandate,” the Board said in a statement. “The Committee is continuing its policy of maintaining ample reserves in the banking…
Read MoreASLA urges for construction workforce stability
A new analysis from the American Society of Landscape Architects highlights the need for construction workforce stability. Recent studies throughout the industry predict that by 2030, the industry will face a gap of millions of skilled trades positions, driven by demographics, slow training pipelines and growing demand for housing, infrastructure, as well as climate-resilient projects, unless we begin the conversation about construction workforce stability. “As design professionals, we need to begin to make workforce stability a normal part of the conversation; not as politics, but as a health, safety and…
Read MorePending home sales soften in June
According to the National Association of REALTORS® Pending Home Sales report, pending home sales in June decreased by 5.4% month-over-month and 0.3% year-over-year. However, at the local level, several markets posted notable year-over-year gains in pending home sales. Among the 50 largest metro areas, 10 markets posted large annual increases in pending home sales. The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. NAR Chief Economist Lawrence Yun said that elevated mortgage rates and home prices are driving factors…
Read MoreExisting-home sales slow in June
The National Association of REALTORS (NAR) Existing-Home Sales report was released on July 9, 2026. According to the report, existing-home sales slowed in June, decreasing by 2.4% month-over-month and increasing 2.8% year-over-year. “The back-and-forth in monthly home sales activity, driven by mild fluctuations in mortgage rates, shows how sensitive home buyers are to affordability conditions,” said NAR Chief Economist Lawrence Yun. “However, job gains, more than half a million since the beginning of the year, will continue to provide support for the housing market.” In June, Month-over-month existing-home sales increased…
Read More21st Century ROAD to Housing Act becomes law
The National Lumber and Building Material Dealers Association (NLBMDA) announced its support of the enactment of H.R. 6644, the 21st Century ROAD to Housing Act. The landmark housing package includes more than 45 provisions aimed at increasing housing supply, reducing unnecessary regulatory barriers, modernizing federal housing programs and giving state and local governments additional tools to support residential construction. “The 21st Century ROAD to Housing Act demonstrates what Congress can accomplish when lawmakers work together to address the housing supply and affordability challenges facing communities across the country,” said Jonathan…
Read More