U.S. Pending Home Sales Fall as Florida Market Grows

The National Association of Realtors reports a divergent trend in the U.S. housing market for June 2026, as national pending sales fell 5.4% from May and 0.3% year-over-year. This decline was most pronounced in the Midwest, which experienced an 8.9% monthly drop. Market stagnation is attributed to record-high home prices and borrowing costs remaining around 6.5%, which have severely constrained affordability for buyers across the country.

In contrast, Florida reported growth in its real estate sector. Florida Realtors found that closed sales of existing single-family homes rose 9.3% year-over-year to 26,036 in June. The median sales price for single-family homes in the state also increased by 4.9%, reaching $432,000.

While the broader national market struggles, certain metropolitan areas, including Sacramento and Virginia Beach, saw significant annual increases in pending sales. Florida's resilience in the face of high interest rates stands as a notable exception to the general trend of declining demand seen throughout much of the United States.