Ugly Housing Statistics: Sales Plunge, Rates Rise

[Michael Carbonare]

𝐔𝐠𝐥𝐲 𝐡𝐨𝐮𝐬𝐢𝐧𝐠 𝐬𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬 𝐬𝐨 𝐟𝐚𝐫 𝐭𝐡𝐢𝐬 𝐉𝐮𝐥𝐲

Mortgage applications are down 41% from the same period in 2019.
June pending sales fell year over year—the second-worst June on record.
Google searches for homes continue to decline.
The Homebuyer Demand Index has slipped back to 8 out of 100, near an all-time low.

Taken together, 2026 is shaping up to be one of the weakest summer housing markets in years. Concerning, because the summer buying season is typically the strongest time of the year. As we move into late summer and fall, sales activity usually slows even further. That means existing home sales could once again fall below a 4 million annualized pace.

But. . .when "bad news" is good news. . .if you're one of the many new and aspiring investors waiting for the market to "improve," it already has. Just not for sellers.
Weak demand creates motivated sellers. Motivated sellers create flexibility. And flexibility creates opportunity.

The next several months are likely to bring more inventory, more price reductions, more seller concessions, and more Accidental Landlords, especially throughout much of the South and West.

If you've been waiting for easier conversations and better terms, this is the opportunity you've been waiting for. The biggest opportunities won't necessarily come from lower prices. They'll come from sellers who are finally willing to negotiate the terms they refused six months ago.

[Alan F.]

This is to be expected considering the poor economic policies over the last 15 yrs +-. The same environment happened after inflation of 70's/80's. There are so many different housing markets that macro data isn't important. Its always a great time to invest, strategies have to adapt to specific markets.