Pending Home Sales Hit Lowest Point Since April Amid Rising Mortgage Rates
Pending home sales across the U.S. have declined to their lowest level since early April, primarily attributed to rising mortgage rates. In Utah, pending home sales also saw a decrease of 9.9% in June, according to the Utah Association of…
Salt Lake City, UT, July 31, 2026 —
Pending home sales across the United States have fallen to their lowest point since early April, with a notable contributing factor being the increase in mortgage rates. This downturn reflects broader shifts in the housing market dynamics.
In Utah, the trend of declining pending home sales is also evident. The Utah Association of Realtors reported that pending home sales in the state decreased by 9.9% in June. This figure underscores a regional impact of the national market pressures.
Despite the overall decline, certain positive developments are emerging for prospective homebuyers. Data indicates a decrease in the median U.S. monthly house payment. Furthermore, the current market conditions are creating opportunities for negotiation with sellers, suggesting that buyers who exercise patience may find favorable terms.
Story summarized from the original created by Lisa Riley Roche on www.deseret.com, see more information here.
Media gallery
