"Weekly pending sales usually take 30-60 days to hit the sales data. Typically, mortgage rates above 6.64% and those breaking over 7% really impact the data negatively. Under 6.25% has been the sweet spot over the past several years, excluding short-term variables. Weekly pending sales last week over the last two years: 2026: 79,220 2025: 74,212"
Weekly pending home sales rose to 79,220, up from 74,212 a year earlier, indicating resilient demand even as mortgage rates remain near yearly highs. Inventory growth slowed to 1.49% year over year, while mortgage spreads stayed improved near 1.96%, helping keep mortgage rates below 7%. Housing demand reached multiyear highs, though the market is not booming. Weekly active inventory data is nearing negative year over year. A mid-June 2025 shift occurred when lower mortgage rates stimulated demand and early-2025 inventory growth could not be sustained. Mortgage rates stayed below 6.64% for most of 2026, supporting firm demand through weather disruptions and geopolitical events. Pending sales are a forward-looking indicator that typically leads home sales by 30 to 90 days.
Read at www.housingwire.com
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