US Housing Strains as Pending Sales Fall 5.4%, Foreclosures Jump 21%
Updated
Updated · InvestmentNews · Jul 17
US Housing Strains as Pending Sales Fall 5.4%, Foreclosures Jump 21%
3 articles · Updated · InvestmentNews · Jul 17
Summary
June contract signings for existing homes fell 5.4% from May and 0.3% from a year earlier, signaling a weak start to the peak summer selling season.
NAR tied the slowdown to the highest mortgage rates in nearly a year and a record-high national median home price, conditions that are hitting first-time buyers especially hard.
ATTOM counted 227,548 properties with foreclosure filings in the first half of 2026, up 21% year over year, while completed repossessions surged 33% and average timelines shortened 13% to 563 days.
National median asking rent for three-bedroom single-family homes held at $2,100, down 1.6% from a year earlier, as added apartment and build-to-rent supply and more landlord concessions capped pricing.
Nearly half of 1,099 rental markets posted annual declines, underscoring a broader housing market losing momentum across buying, ownership stress and leasing.