Latest real estate news and analysis tagged with pending-home-sales on realestatenews.news.
Pending home sales hit a 12-year low as mortgage rates surpassed 7%, cooling demand across major U.S. metros.
Redfin reports a 3.5% weekly decline in pending home sales, offering buyers more negotiating power and choices.
Rising mortgage payments and home prices are keeping potential buyers on the sidelines, while sellers adjust to longer market times.
Supply is climbing while pending sales hit a six-month low, shifting leverage toward buyers in cities like Miami, Nashville and across Texas—especially for homes that have sat on the market for weeks.
Fresh supply is entering the market as summer fades, but pending home sales have slipped to their weakest point since March amid elevated mortgage rates and economic uncertainty.
Pending home sales rose a modest 0.4% week over week through early August, while new listings jumped 1.7%—the largest weekly gain in five months—giving buyers slightly more room to negotiate in a market still weighed down by elevated mortgage rates.
Pending home sales have dropped to their lowest level since April, with the daily average mortgage rate climbing to 6.85%. Yet buyers still hold negotiating power as sellers continue to outnumber active purchasers across most of the country.
U.S. pending home sales slipped 1.3% week over week through July 19, pressured by elevated mortgage rates and near-record home prices, even as inventory gives buyers more room to negotiate.
Florida single-family pending sales climbed 4.1% year over year in June, reaching 24,235 contracts — a sharp contrast to declines seen nationally and across the South.
Roughly 47,000 U.S. home-sale contracts fell apart in April, but the cancellation rate edged down slightly as sellers grew more flexible and buyers adjusted to elevated mortgage costs.
A surge in mortgage rates to their highest level since last July has interrupted several weeks of improving homebuying demand, pushing pending sales lower and cooling purchase applications.
The median U.S. home sale price climbed 2.4% year over year in April 2026, the sharpest increase since March 2025, as pending sales hit the highest level since 2023 and inventory expanded to its widest point since 2020.
The median U.S. home sale price climbed 2.4% year over year in April to $396,173, the largest annual increase in 13 months, as buyer demand surged alongside a stronger-than-expected jobs report.
Markets will parse April inflation data and any developments in Iran’s talks, keeping mortgage rates volatile. Key economic releases and Fed commentary add to the uncertainty.
A temporary pullback in mortgage rates and slightly higher inventory helped push pending contracts to their strongest level in nearly four years, Redfin says.
A short-lived dip in mortgage rates pushed pending contracts to a near four-year high, but overall spring activity remains slower than in past years.
