"With mortgage rates near 6% and the snow effect fading away, we got a rebound in the weekly housing demand last week. For me, this is more about the snow impact fading from the data line, as we also saw a pickup in new listings. Housing inventory picked up a smidge, and the year-over-year price cut percentage is now down almost 1% versus 2025 data last week."
"Pending home sales data provide a week-to-week perspective, though results can be affected by holidays and short-term fluctuations, such as the recent winter storm that hit the country. I was expecting a small bounce last week and we were just a tad higher than what I was looking for. Soon, the winter effect will fully fade from the housing data. Our weekly pending sales data falls into the monthly sales data 30-60 days out."
Mortgage rates stayed near 6 percent while weekly housing demand rebounded as snowstorm impacts faded. New listings increased and housing inventory edged up slightly, while year-over-year price cut percentage fell about one percentage point versus last week's 2025 data. Weekly pending home sales offer a week-to-week view but can be distorted by holidays and short-term weather events. Purchase application data showed the largest snowstorm-related weakness, with a mild week-to-week decline recently despite no negative year-over-year weeks in 2026. Total pending home sales have shown year-over-year growth every week this year. Monthly sales data may still reflect remaining winter effects.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]