IE Business Daily Business news for the Inland Empire.
Pending home sales nationwide rose 1.3 percent during the four weeks that ended July 5, their highest level since the first half of May, according to Redfin, a real estate brokerage in Seattle.
During that time, demand for homes rose slightly, mostly because mortgage rates fell slightly to 6.4 percent by July 2, Redfin reported.
Redfin attributed that drop in part to ceasefire negotiations between the United States and Iran, which helped calm the financial markets. Those talks caused the median monthly housing payment to creep down to $2,598, its lowest level in six weeks, but that trend did not last: mortgage rates were up an average of 6.6 percent by July 8.
Meanwhile, housing prices remain high. The median sale price rose 2.2 percent, to $408,808, compared with the same period in July 2025. That was about $500 short of the all-time high, according to Redfin.
All of Redfin’s data is seasonally adjusted.
