U.S. pending home sales rose 1.3% from the previous week during the four weeks ending July 5, 2026, reaching their highest level since the first half of May 2026. The seasonally adjusted count of pending home sales totaled 337,402 during this period.

This increase occurred as the weekly average 30-year fixed mortgage rate reached 6.43% for the week ending July 2, 2026, marking its lowest level in six weeks. On July 8, 2026, the daily average 30-year fixed mortgage rate was 6.68%. Redfin head of economics research Chen Zhao said in a podcast interview, "The housing market is kicking off the summer by showing a bit of resilience."

The median U.S. home sale price stood at $408,808 during the four weeks ending July 5, 2026, reflecting a 2.2% year-over-year increase. The median asking price was $401,029, up 2.5% year over year. The median monthly housing payment was $2,598 during the same period.

New listings fell 2.5% week over week, totaling a seasonally adjusted 354,412, and reached their lowest level since January 2026. Active listings rose 0.7% year over year but fell 0.7% week over week, with a seasonally adjusted count of 1,485,211. Months of supply was 3.4. "While near-record prices and a lack of new listings are keeping many would-be buyers on the sidelines, there are enough house hunters hitting the pavement to push pending sales up," Zhao said.

Approximately 34.3% of homes went off the market in two weeks, and the median days on market was 40. The share of home listings with price drops was 19.4%, while 28.4% of homes sold above their list price. The average sale-to-list price ratio was 99.1%.

Regionally, pending home sales saw year-over-year increases in several cities for the four weeks ending July 5, 2026. Austin, Texas, experienced a 17% rise, while West Palm Beach, Florida, saw a 16.6% increase. Boston's pending sales were up 13.4%, Providence, Rhode Island, rose 12.8%, and Sacramento, California, increased by 12.7%. Conversely, pending home sales in Houston fell 12.2% and in Seattle by 10% year over year.

Median sale prices also varied by metro area, with Pittsburgh showing a 9.2% year-over-year increase, while San Francisco experienced an 8.2% decline. New listings in Anaheim, California, rose 17.4% year over year, whereas Dallas saw a 13.2% decrease. Mortgage-purchase applications fell 1% from the previous week but rose 5% year over year for the week ending July 3, 2026. Google searches for "homes for sale" decreased by more than 10% from the previous month and 5% year over year as of July 5, 2026. Touring activity was up 14% from the start of the year.

Why It Matters

The rise in pending home sales indicates that buyer demand persists in the U.S. housing market despite high prices and limited new inventory. This trend suggests that a dip in mortgage rates can influence buyer activity, even with ongoing challenges like near-record home prices. Zhao said, "If that trend continues, we may get more fresh listings from sellers hoping to take advantage of demand and high prices."