04/13/2026
Pending Home Sales Rise Despite Higher Rates
Pending home sales increased in March, even as mortgage rates moved higher during the same period. This unexpected gain suggests that buyer demand is still present, even in a challenging rate environment. Some buyers appear to be adjusting to current conditions and moving forward with purchases rather than waiting for significantly lower rates.
At the same time, this does not signal a full recovery in the housing market. Affordability remains a major issue, and higher borrowing costs continue to limit how far demand can go. The increase in pending sales is likely tied to seasonal trends and some buyers stepping in after earlier hesitation, but overall activity is still constrained compared to more normal market conditions.
Boomers Hold Most Large Homes as Millennials Lag
A new report shows that empty-nest baby boomers now own 28% of large homes in the U.S., while millennials own just 16%. This highlights a growing imbalance in housing distribution, where older homeowners are staying in larger properties even after their households have shrunk. Many of these homeowners are choosing not to sell due to low mortgage rates they locked in years ago or a lack of appealing downsizing options.
This trend is contributing to the ongoing housing shortage, particularly for families looking for larger homes. With fewer of these properties coming onto the market, supply remains tight and prices stay elevated. The data reinforces a key challenge in today’s housing market: it’s not just about building more homes, but also about improving the flow of existing inventory so that it better matches current buyer needs.
