U.S. Pending Home Contracts Rise 4.6% as Midwest Markets Outperform Despite Holiday Slowdown
Updated
Updated · HousingWire · Jul 15
U.S. Pending Home Contracts Rise 4.6% as Midwest Markets Outperform Despite Holiday Slowdown
2 articles · Updated · HousingWire · Jul 15
Summary
Pending home contracts rose 4.6% from a year earlier in the July 10 week, while estimated home sales increased 5.6% and total pending inventory climbed 4.1%, indicating buyer demand held up nationally.
Weekly listings and new pendings both fell sharply from the prior week, but the Fourth of July lull and higher mortgage rates near the top of forecast ranges distorted the short-term picture.
Grand Rapids, Michigan, led the tight-supply story with just 0.8 months of inventory, a 2.09 velocity ratio and a median seven days on market, keeping it firmly in seller's-market territory.
Cape Coral-Fort Myers cut active inventory 33.2% year over year as absorbed homes jumped 62.8%, while Bridgeport posted a 28% rise in new pending contracts despite a $1.15 million median list price.
Midwest metros including Dayton, Wichita and Cleveland continued to post strong absorption gains, reinforcing a 2026 regional rotation toward more affordable markets even as Augusta, Georgia, showed an unusual 40.6% relist rate.