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U.S. Pending Home Sales Decline 5.4% in June, Miss Forecasts Amid Rising Mortgage Rates

2026-07-16 17:37:21

According to the National Association of Realtors (NAR), pending home sales in the U.S. fell 5.4% month-over-month in June and declined 0.3% year-over-year, significantly underperforming economist expectations of a 0.5% decline. Lawrence Yun, NAR's chief economist, attributed the weakness to near-one-year mortgage rate highs and record-high median home prices nationwide, citing particular challenges for first-time homebuyers.

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