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Pending sales rose to 75,856 vs 72,039 in 2025 as inventory turned negative year over year with mortgage rates near 6.58%.

Housing inventory turned negative year over year as supply hit 795,921 vs 803,479 last year, with rates at 6.56%.

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.

Pending sales rose to 78,006 and purchase apps rose 7% yearly, even as mortgage rates hit highs and yields neared 4.60%.

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.

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 rebounded last week even though the war with Iran continues and mortgage rates are higher today than before the war started.

Inventory rose to 743,006, new listings hit 77,919 and pending sales rose to 73,241 as rates neared 6.25%.