US pending home sales fell 2.3% in July 2026, weaker than economists' no-change forecast, as the year's highest mortgage rates collided with record July home prices and deepened a broad housing slowdown. The National Association of Realtors said its Pending Home Sales Index was cited at 71.2 in the latest account, versus 70.2 in earlier coverage, with both versions describing the reading as the lowest since January. Pending sales were down 2.2% from a year earlier, and the latest regional breakdown showed all four major US regions weakening from June, led by a 4.7% drop in the West, revising earlier coverage that had shown the South as the weakest region. NAR Chief Economist Lawrence Yun said higher borrowing costs pulled back peak-summer contract signings, while median existing-home prices reached a record July range of $431,400 to $434,100. Existing-home sales also fell 1.7% in July to a seasonally adjusted annual rate of 4.06 million, Redfin tracked near-record-low buyer demand, and Yun said pending contracts remain about 30% below 2019 levels despite roughly 5% payroll employment growth, suggesting August and September existing-home sales are likely to stay soft because signed contracts typically close one to two months later.