Housing demand stays positive with mortgage rates near 2026 highs
Weekly pending sales increased to 75,935 versus 69,636, and purchase apps were up 7% year over year despite higher mortgage rates.
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Housing inventory just turned negative year over year
Housing inventory turned negative year over year as supply hit 795,921 vs 803,479 last year, with rates at 6.56%.
Housing demand stays firm, pushing inventory close to negative YOY
Even if we go negative year over year soon, we are in a much healthier spot with inventory than we were from 2020 to 2023.
Mortgage rates are at yearly highs, but housing demand is still positive
Pending sales rose to 78,006 and purchase apps rose 7% yearly, even as mortgage rates hit highs and yields neared 4.60%.
Positive housing demand leads to inventory almost going negative YOY
Pending sales rose to 79,220 vs 74,212 last year as rates dipped to 6.42% and inventory growth slowed to 1.49% year over year.
Mortgage spreads are the only thing keeping rates under 7%
If mortgage spreads were at the highest levels from 2023-2025 with the 10-year yield at this level, mortgage rates would be over 7%.
Housing demand shockingly positive even as the Iran war continues
Housing demand rebounded last week even though the war with Iran continues and mortgage rates are higher today than before the war started.
Weekly pending home sales show yearly growth as mortgage rates fall
Inventory rose to 743,006, new listings hit 77,919 and pending sales rose to 73,241 as rates neared 6.25%.
Is housing inventory about to turn negative year over year?
U.S. inventory growth slowed to 3.21% year over year as rates neared 6.64%, with new listings down 7.9% from 2025.
How is the housing market weathering war-time economics?
War-time economics have sent gas prices skyrocketing and pushed mortgage rates higher over the last five weeks, from a low of 5.99% to a high of 6.64%.