"Last week's existing home sales report showed another year-over-year increase in demand, up 4.1%. This is something I talked about many months ago: if the sales trend stays flat around 4 million given the low bar in 2025 we should see growth for many months. The months of June to October, with reports coming out in July to November, should be positive year over year, as the early forward-looking housing data was better than last year."
"Our weekly pending sales did rise, but probably not this much: 2025: 67,757 2024: 58,966 As you can see below, our new listings data experienced a larger-than-usual increase, which is uncommon for this time of year. This will normalize in the coming week. It's important to remember that most home sellers are also buyers. I was encouraged to see the recent stabilization in this data line, but the spike here was abnormal, similar to the weekly pending home sales data."
"Our price-cut percentage data has stabilized in the past few months and recently declined slightly. In fact, it's currently running below the levels we saw in 2022. Last week saw a slight decline in the data, but I'm a bit mindful of this data as well. Hopefully, we should get some normalization in the data this week we already have enough drama with the government shutdown."
Pending home sales rebounded but not to the apparent level. Existing home sales rose 4.1% year-over-year, supported by low comps and a roughly 4 million sales trend that should produce several months of growth. Weekly sales showed growth beginning in May, with a 30–60 day lag before reflecting in existing-home sales. Weekly pending sales increased markedly in 2025 versus 2024. New listings spiked unusually for the season and are expected to normalize. Most home sellers are also buyers, so listing volatility matters for market balance. Price-cut percentages have stabilized and declined slightly, running below 2022 levels.
Read at www.housingwire.com
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