2026.09.1714:12:35UTC+00US Pending Home Sales Miss Expectations

US pending home sales rose 0.3% month over month in August 2026, recovering from a revised 2.6% decline in July but undershooting market expectations for a 2.0% gain. By region, sales increased in the South (2.3%) and West (3.0%), partially offsetting declines in the Northeast (-4.2%) and Midwest (-1.6%).

On an annual basis, pending home sales were down 4.7%, with all four major US regions posting year-over-year declines. “Buyers steadily entered into contracts in August even though mortgage rates increased,” said NAR Chief Economist Lawrence Yun. He noted, however, that the housing market remains subdued, with contract signings still trailing last year’s levels as higher mortgage rates counteract the boost to purchasing power from gains in jobs and income.

Yun added that national contract signings remain about 30% below pre-pandemic levels. Activity peaked in 2021, when mortgage rates dropped to near 3%, a historic low, and has not returned to those levels since.