US Pending Home Sales Slip for Second Straight Month

2026-02-19 15:15:18

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US pending home sales fell 0.8% month over month in January 2026, extending a revised 7.4% decline in December and missing expectations for a 1.3% increase. The second consecutive monthly drop highlights ongoing pressure in the US housing market, despite lower mortgage rates. Regionally, sales fell in the Northeast (-5.7%) and South (-4.5%), while the Midwest (5.0%) and West (4.3%) saw gains. On a year-over-year basis, pending home sales were down 0.4%. “Improving affordability conditions have yet to induce more buying activity,” said Lawrence Yun, Chief Economist at the National Association of Realtors. “With mortgage rates nearing 6%, an additional 5.5 million households that could not qualify for a mortgage one year ago would qualify at today’s lower rates. Yun also warned that without an increase in housing supply, new buyers entering the market could push prices even higher, intensifying affordability pressures and highlighting the urgent need for more home construction.

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