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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Pending 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…
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