Total pending home sales reach multiyear high with mortgage rates near 6%

"Over the past few years, housing data has tended to perform better when mortgage rates are below 6.64% and are heading toward 6%. As long as rates don't spike back above 7%, we have a situation we can work with in 2026. Last year at this time rates spiked, which caused that momentum to fade. As you can see below, most of our data lines show that housing demand is very seasonal."

"Our weekly pending sales data indicate that these homes are going into contract and will most likely be included in the existing home sales report 30-60 days later. The two prior weeks before this week showed 15%+ year-over-year growth, even as the growth rate is slowing down. Our weekly pending sales data is different than our total pending sales, as it only accounts for the week-to-week data, which can be volatile at times."

"Weekly pending sales for last week: 2025: 58,612 2024: 55,862 We've had 16 weeks of testing the housing data in 2025 with mortgage rates under 6.64% and we have had nine positive week-to-week prints, seven negative prints,and 16 consecutive weeks of double-digit, year-over-year growth in purchase apps. Last week saw a 2% decrease from the previous week, but a 26% year-over-year increase."

Weekly pending sales data show that sales have improved over recent weeks compared with previous years, driven partly by mortgage rates under 6.64% moving toward 6%. As long as rates do not spike above 7%, conditions remain workable for 2026. Housing demand remains strongly seasonal. Weekly pending sales typically go into contract and will likely appear in the existing home sales report 30–60 days later. Recent weeks recorded 15%+ year‑over‑year gains, though growth is slowing. Last week recorded 58,612 pending sales versus 55,862 a year earlier. Purchase applications have posted 16 consecutive weeks of double‑digit year‑over‑year growth.

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