U.S. Home Sales Surge 7% in July as Pending Listings Rise Just 0.3%
Updated
Updated · businessjournaldaily.com · Aug 6
U.S. Home Sales Surge 7% in July as Pending Listings Rise Just 0.3%
3 articles · Updated · businessjournaldaily.com · Aug 6
Summary
July home sales jumped 7% from a year earlier — the strongest annual gain of 2026 — but Zillow said the increase reflects contracts signed weeks earlier when mortgage rates were near 6.5%.
Newly pending listings rose just 0.3%, signaling a thin pipeline for future closings after a July oil-price shock pushed mortgage rates higher and likely sidelined buyers.
Affordability is already close to reversing: the typical monthly mortgage payment was $1,888 in July, 0.9% below a year earlier, but Zillow said August rates could lift it above year-ago levels.
Supply improved only modestly, with 387,203 new listings up 3.1% year over year, while homes took a median 25 days to go pending — five days longer than a year earlier.
Zillow expects July may mark this year's high point for existing-home sales, with flat to declining transaction volumes in some regions through the rest of 2026.