16.07.202614:05:50UTC+00US Pending Home Sales Post Biggest Drop in Six Months

US pending home sales fell 5.4% month-over-month in June 2026, breaking a four-month streak of gains and marking the steepest decline since December 2025. The drop was far larger than the market’s expectation of a 0.5% decrease, with contract signings down across all four major regions: the Northeast (-3.0%), Midwest (-8.9%), South (-4.1%), and West (-4.7%). On a year-over-year basis, pending home sales slipped 0.3%, driven by softness in the South and West.

According to NAR Chief Economist Lawrence Yun, the combination of the highest mortgage rates in nearly a year and record-high home prices continues to strain affordability, especially for first-time buyers. Even so, he noted that a strong labor market should provide some support for housing demand. The NAR also emphasized that pending sales measure signed contracts, not completed transactions, and therefore serve only as a leading indicator of future home sales.