Latest real estate news and analysis tagged with pending-home-sales on realestatenews.news.
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.
