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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Price 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 MorePending home sales increase in August
According to the National Association of REALTORS (NAR) Pending Home Sales Report, pending home sales rose 0.3% month over month in August. Pending home sales rose month-over-month in the South and West but fell in the Northeast and Midwest. Year-over-year, pending home sales decreased 4.7%. “Buyers steadily entered into contracts in August even though mortgage rates increased,” said NAR Chief Economist Dr. Lawrence Yun. “However, the housing market is still sluggish, with contract signings below last year. This is due to higher mortgage rates offsetting the increased buying power created…
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 MorePending home sales soften as summer winds down
According to a new Redfin analysis, home buying is softening as summer winds down. Pending home sales fell 1.3% week over week, while new U.S. home listings rose 1.2%. Home-buying demand remains strong in California’s Bay Area and South Florida. However, an opportunity remains as summer winds down: New home listings and slower demand could draw out more potential home buyers. Touring activity remains up 10% from the start of the year, as of Aug. 15, 2026. “Some homeowners have been waiting for mortgage rates to fall and demand to…
Read MorePending home sale tour activity up 12%
According to a Redfin analysis, as of Aug. 8, 2026, touring activity for pending home sales is up 12% from the start of the year. U.S. pending home sales edged up 0.4% week over week during the four weeks leading up to August 9 on a seasonally adjusted basis, offering a boost to this summer’s slow housing market. Pending sales remain lower, but the latest weekly uptick may reflect normal week-to-week changes, showing signs of a steadying market. On a year-over-year basis, pending sales are down 1.6%. While rising mortgage rates…
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 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…
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