Housing market sees pending sales hit multiyear high as demand rises

12 articles · Updated · HousingWire · Apr 26

Pending home sales reached 80,258 last week, a multiyear high, while mortgage purchase applications jumped 10% week-over-week and 12% year-over-year amid rates falling to 6.29%.
New listings climbed to 83,395, inventory grew 4.98% year-over-year, and the price-cut percentage declined to 34.22%. Improved mortgage spreads helped keep rates lower than previous years despite ongoing conflict with Iran.
The housing market has remained resilient despite high rates, layoffs, and geopolitical uncertainty. Upcoming Federal Reserve meetings, inflation data, and housing starts are expected to further influence market conditions in the coming week.

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