Housing Market Tops 429,242 Pending Sales in H1 2026 as Iran Shock Fails to Derail Demand
Updated
Updated · HousingWire · Jun 28
Housing Market Tops 429,242 Pending Sales in H1 2026 as Iran Shock Fails to Derail Demand
1 articles · Updated · HousingWire · Jun 28
Summary
429,242 total pending home sales in the latest week-average reading topped 396,741 a year earlier, showing housing demand outperformed in the first half despite the Iran conflict, oil above $100 and rate-hike fears.
Improved mortgage spreads did most of the work: with the 10-year yield at 4.37%, rates stayed below 7% in 2026 and would have been near 8% under 2023-style spreads.
Weekly signals were steadier than spectacular, with purchase applications posting 22 positive year-over-year weeks and 10 double-digit gains, while weekly pending sales slipped to 72,222 from 74,130 on a tougher comparison.
Supply also held up as inventory rose to 841,547 from 830,939 in the latest week and price cuts ran at 39.05% versus 40% last year, suggesting home prices remain broadly flat while wages keep outpacing them.
The next test is jobs week: the market is watching whether labor data and easing oil prices can push mortgage rates lower and let economic fundamentals matter more than Middle East tensions.