Pending home sales sink to lowest point in nearly three years
“House hunters who can afford it should be taking advantage of today’s slow market,” she said.
“If and when mortgage rates trickle down below 6%, I’m willing to bet inventory will be depleted in no time — then it’s boom! Back to bidding wars.”
Bill Dallas, Chairman of Dallas Capital, says too many mortgage professionals are treating today’s market challenges as temporary, when the real shift may be structural.https://t.co/PIKUWA90Ss
— Mortgage Professional America Magazine (@MPAMagazineUS) September 16, 2026
Sellers adjusting, but prices holding firm
The daily average 30-year fixed mortgage rate reached 6.76% for the week ending September 10, up from 6.35% one year ago, according to Freddie Mac. At that rate, the typical monthly mortgage payment came to approximately $2,633, a 3.4% year-over-year increase.
Despite softening demand, prices are not falling. The median US home sale price was $397,633 for the period, up 2% from a year earlier.
Price reductions are growing more common — 20.8% of listings carried cuts, up from 19.7% — but the median days on market held at 46, unchanged year over year.
