• Redfin data showed U.S. pending home sales fell 1.1% week over week in the week ended May 17, the first decline since early April.
• The pullback coincided with a jump in mortgage rates to a 10-month high; the daily average 30-year fixed rate reached 6.75% this week, with Mortgage News Daily showing 6.67% on May 20.
• Mortgage-purchase applications dropped 4% week over week, signaling softer near-term demand as affordability tightened.
• Prices continued to climb, with the median asking price up 1.4% year over year; the median sale price rose 2.2% to $398,653 over the four weeks ended May 17.
• Supply indicators stayed constrained, with new listings down 0.2% week over week; months of supply held at 3.5, below the 4-5 months typically seen in a balanced market.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Redfin Corporation published the original content used to generate this news brief on May 21, 2026, and is solely responsible for the information contained therein.