US Pending Home Sales Post Biggest Drop in Six Months

2026-07-16 14:05 By Joana Ferreira 1 min. read

US pending home sales fell 5.4% month-over-month in June 2026, ending a four-month streak of gains and marking the sharpest decline since December 2025.

The drop was far steeper than market expectations for a 0.5% decline, with contract signings falling across all four major regions: the Northeast (-3.0%), Midwest (-8.9%), South (-4.1%), and West (-4.7%).

Compared with a year earlier, pending home sales slipped 0.3%, reflecting weakness in the South and West.

According to NAR Chief Economist Lawrence Yun, the combination of the highest mortgage rates in nearly a year and record-high home prices continues to weigh on affordability, particularly for first-time buyers, although a strong labor market should help support housing demand.

The NAR also noted that pending sales reflect signed contracts rather than completed transactions, meaning they are only an indication of future home sales.



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US Pending Home Sales Post Biggest Drop in Six Months
US pending home sales fell 5.4% month-over-month in June 2026, ending a four-month streak of gains and marking the sharpest decline since December 2025. The drop was far steeper than market expectations for a 0.5% decline, with contract signings falling across all four major regions: the Northeast (-3.0%), Midwest (-8.9%), South (-4.1%), and West (-4.7%). Compared with a year earlier, pending home sales slipped 0.3%, reflecting weakness in the South and West. According to NAR Chief Economist Lawrence Yun, the combination of the highest mortgage rates in nearly a year and record-high home prices continues to weigh on affordability, particularly for first-time buyers, although a strong labor market should help support housing demand. The NAR also noted that pending sales reflect signed contracts rather than completed transactions, meaning they are only an indication of future home sales.
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