US pending home sales fall 1.9% to record low, Redfin reports
SPY•U.S. pending home sales fell 1.9% week over week to a record low for the four weeks ended Oct. 18, 2026, and were down 14.4% year over year. Mortgage rates of 7.4% pushed the median monthly housing payment to $2,796.
1. Sales hit record low
Pending home sales fell 1.9% week over week to a record low for the four weeks ended Oct. 18, 2026, and dropped 14.4% from a year earlier. Sales declined across all 50 largest U.S. metros for a second consecutive week.
2. Prices and inventory
The median monthly housing payment was $2,796, the second-highest level on record, as mortgage rates reached 7.4%. Median home sale prices rose 0.2% year over year to $390,614; new listings fell 1.4% week over week, while total inventory edged up 0.1%.
