Housing inventory trends reshape the housing market in 2026

Housing demand is holding up across major U.S. regions going into the second half of 2026, even as mortgage rates hover near 6.6%. For the week ending June 20, pending sales rose year over year in every region: the Northeast (+4.1%), South (+6.9%), West (+8.4%), and Midwest (+9.0%). National inventory looked steady at 830,939 active homes for the week ending June 20, up just 0.25% from a year earlier, but the national flatline masks divergent regional moves. Inventory increased in the Northeast (+7.2%) and Midwest (+5.5%) while shrinking in the South (-0.8%) and West (-2.8%). The South, containing 459,019 active listings or 55.3% of all inventory, is driving the national pattern and also carried a price-cut rate of 39.4%, slightly above the national 38.6%, despite pending sales up 6.9%.