Rocket’s Redfin: US pending home sales fall 1.1% as mortgage rates climb

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  • Rocket Companies-backed Redfin flagged a pullback in US housing demand, with pending home sales down 1.1% week over week in the period ending May 17, the first decline since early April.
  • Mortgage rates moved to a 10-month high, with the daily average 30-year fixed rate at 6.75% this week; mortgage-purchase applications fell 4% week over week.
  • Prices continued to rise, with the median asking price up 1.4% year over year; Redfin described the market as buyer-leaning as higher rates curb competition.
  • Supply signals softened, with new listings down 0.2% week over week, marking a third straight weekly decline.
  • Redfin data for the four weeks ending May 17 showed pending sales at 342,047, up 7.8% year over year, despite the latest weekly drop.


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. Rocket Companies Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202605210800BIZWIRE_USPR_____20260521_BW403534) on May 21, 2026, and is solely responsible for the information contained therein.

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