What did pending home sales look like in August 2026?
Buyers signed contracts to buy more homes across the nation in August compared to July, a report released today by the National Association of REALTORS® (NAR) said.
August saw a 0.3% month-over-month increase in pending home sales across all regions tracked by the NAR, while year-over-year data saw an overall 4.7% decrease in those same regions.
“Buyers steadily entered into contracts in August even though mortgage rates increased,” NAR Chief Economist Lawrence Yun said. “However, the housing market is still sluggish, with contract signings below last year. This is due to higher mortgage rates offsetting the increased buying power created by job gains and income growth outpacing home price growth.”
Pending home sales are indicators of the direction of the housing market in general based on purchase contracts signed for homes for sale.
Which regions showed changes in pending home sales?
Two of the four regions the NAR tracks in the U.S. showed increase in pending sales in August from the previous month, with all regions also showing an increase in pending home sales compared to the same time last year.
- The West saw an increase in pending home sales from the previous month at 3% and a 6.7% drop from a year ago.
- Signed contracts in the South rose 2.3% from July but dropped 3.8% from September 2025.
- Pending sales in the Midwest dropped 1.6% from the previous month and lowered 4.9% from the same time last year.
- The Northeast experienced a 4.2% decrease in pending home sales from last month and a 3.9% decrease from last year.
While there has been an overall decrease in pending home sales year-over-year, some local metro markets have seen noticeable gains in pending home sales.
Mortgage interest rates earlier this year hit a three-year low, then hit a one-month low in June and have been on a slow rise since. However, seasoned homebuyers know that you purchase the home, not the mortgage rate, so finding the right home should be the most important factor. Homeowners can always change their mortgage rate with a refinance when rates drop further.
Did mortgage rates show any change?
According to data from Freddie Mac, the 30-year fixed-rate mortgage averaged 6.67% as of Sept. 10*. That’s up from 6.71% one week ago as well as up a bit from 6.35% one year ago.
The cooler months of fall and winter tend to see fewer potential buyers in the market, typically allowing those shopping at that time more negotiating power. The warmer summer months tend to see a larger number of homes on the market, giving those looking to purchase homes more to choose from.
Are you ready to start the homebuying process? Start by applying for a mortgage pre-approval and begin your journey toward your dream home with OriginPoint! A pre-approval shows sellers and real estate agents that you’re serious and gives you an idea of how much of a mortgage you’re likely to be approved for.
*National average rates from Freddie Mac as of Sept. 10, 2026, are not advertised rates from OriginPoint.
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