U.S. pending home sales increased by 1.3% compared to the previous week, reaching their highest point since early May during the four-week period ending on July 5. This information is derived from a recent report by Redfin, a real estate brokerage affiliated with Rocket. The data has been seasonally adjusted.
The rise in homebuying demand can be attributed in part to a temporary decrease in mortgage rates. The weekly average rate fell to 6.43% on July 2, marking its lowest level in six weeks, as negotiations between the U.S. and Iran to resolve the conflict alleviated financial instability. This development resulted in a reduction of the median monthly housing payment to $2,598, the lowest it has been in six weeks. However, this reprieve from rising mortgage rates was short-lived; rates have since increased again, with the daily average climbing to 6.68% on July 8.
Home sale prices continue to be persistently elevated: The median sale price increased by 2.2% compared to the previous year, reaching $408,808, which is nearly $500 below the record high. On the listing front, potential home sellers have not yet adjusted to the recent rise in buyer demand. New listings decreased by 2.5% week over week, marking the lowest level since January.
“The housing market is kicking off the summer by showing a bit of resilience,” said Chen Zhao, Head of Economics Research at Redfin. “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.”
U.S. Highlights — Four weeks ending July 5, 2026:
| Four weeks ending July 5, 2026 | Year-over-year (YoY) change | Week-over-week change (where applicable) |
| $408,808 | 2.2% | |
| $401,029 | 2.5% | |
| $2,598 at a 6.43% mortgage rate | 0.6% | |
| 337,402 | 6.3% | 1.3% |
| 354,412 | 2% | -2.5% |
| 1,485,211 | 0.7% | -0.7% |
Metro-level highlights — July 2026
Top five metros with the biggest YoY increases in median sale price:
- Pittsburgh (9.2%)
- San Francisco (8.2%)
- West Palm Beach, FL (7.6%)
- Philadelphia (7.6%)
- Chicago (6.1%)
Overall, the U.S. median sale price declined in eight metros.
Top five metros with the biggest YoY decreases in median sale price:
- San Jose, CA (-6%)
- Seattle (-4.5%)
- Miami (-2.1%)
- Dallas (-1.5%)
- Riverside, CA (-0.4%)
Top five metros with the biggest YoY increases in pending sales:
- Austin, Texas (17%)
- West Palm Beach, FL (16.6%)
- Boston (13.4%)
- Providence, RI (12.8%)
- Sacramento, CA (12.7%)
Top five metros with the biggest YoY decreases in pending sales:
- Houston (-12.2%)
- Seattle (-10%)
- Virginia Beach, VA (-1.3%)
- Denver (-0.8%)
- San Jose, CA (-0.8%)
Top five metros with the biggest YoY increases in new listings:
- Anaheim, CA (17.4%)
- St. Louis (16%)
- Philadelphia (14.8%)
- Boston (12.6%)
- Austin, Texas (11.3%)
Top five metros with the biggest YoY decreases in new listings:
- Dallas (-13.2%)
- Fort Worth, Texas (-12.4%)
- Atlanta (-6.8%)
- Jacksonville, FL (-6.3%)
- Miami (-4.2%)
“If that trend continues, we may get more fresh listings from sellers hoping to take advantage of demand and high prices,” Zhao said.
Note: Redfin’s national metrics include data from 900+ U.S. metro areas and are based on homes listed and/or sold during the period. Weekly housing-market data goes back through 2021. Subject to revision.
