Weekly Housing Headlines

Total mortgage application volume fell 3.8% last week compared with the previous week; pending home sales in May increased by 3.8% month-over-month and 4.8% year-over-year; construction activity on new single-family homes retreated in May; cancellations of contracts to buy homes are most common in Atlanta, Fort Worth, TX and Jacksonville, FL; the cost of regulations has risen 40% in the past five years; and the Midwest and South continue to outpace the rest of the nation in affordability and new construction.

Mortgage rates are now falling but demand is still weaker
CNBC - 6/17/2026
Total mortgage application volume fell 3.8% last week compared with the previous week, according to the Mortgage Bankers Association. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances remained unchanged at 6.60%.

NAR Pending Home Sales Report Shows 3.8% Increase in May
National Association of Realtors - 6/17/2026
Pending home sales in May increased by 3.8% month-over-month and 4.8% year-over-year, according to the National Association of Realtors Pending Home Sales report.

Single-Family Home Construction Falls Again in May in the Face of Soaring Borrowing Costs
Realtor.com - 6/16/2026
Construction activity on new single-family homes retreated in May alongside permits and completions in the face of economic uncertainty, high borrowing costs and material rates, the U.S. Census Bureau reported Tuesday.

NAR Chief Economist Lawrence Yun Says Home Sales Expected to Improve in Second Half of 2026
National Association of Realtors - 6/16/2026
Home sales are expected to be modestly better in the second half of 2026, provided that inventory and housing supply continue to expand, according to National Association of Realtors Chief Economist Dr. Lawrence Yun.

Former Red-Hot Seller’s Markets, Like Atlanta, Now Lead the Nation in Canceled Home Sales
Redfin - 6/17/2026
Cancellations of contracts to buy homes are most common in Atlanta, Fort Worth, TX and Jacksonville, FL. In each of those places, roughly 18% of all home-sale agreements that went under contract in May fell through.

Increasing regulatory costs continue to deepen housing affordability crisis: NAHB
Scotsman Guide - 6/12/2026
A new study from the National Association of Home Builders finds the cost of regulations has risen 40% in the past five years and now adds an estimated $131,734 to the price of the average home.

2026 Realtor.com State Report Cards: Indiana Ranked No. 1 for Homebuilding and Affordability
Realtor.com - 6/15/2026
The Midwest and South continue to outpace the rest of the nation in affordability and new construction, leaving almost all coastal and Western states far behind, according to the 2026 Realtor.com Housing Report Cards.

Builder Sentiment Remains Weak Amid Affordability Concerns
Eye On Housing - 6/15/2026
Builder confidence in the market for newly built single-family homes fell two points to 35 in June, according to the National Association of Home Builders/Wells Fargo Housing Market Index. This is the 14th straight month that sentiment has remained below 40.

More Than Half Of Buyers Say They'd Purchase A Home Without Human Help
National Mortgage Professional - 6/12/2026
More than half of prospective homebuyers (53%) say they would be comfortable purchasing a home without any direct human involvement, according to a new survey from Veterans United Home Loans.

Consumer sentiment rises for the first time in three months
CNN Business - 6/12/2026
The University of Michigan’s latest survey of Americans showed that sentiment rose 9% to a preliminary reading of 48.9 early this month, the first increase since February.