Key facts
- The U.S. housing market showed resilience in the first half of 2026.
- Geopolitical tensions and rising oil prices were present during this period.
- Pending home sales showed positive year-over-year growth.
- Mortgage purchase applications also showed positive year-over-year growth.
- Improved mortgage spreads supported the market.
- Wage growth outpaced home price increases.
- The market demonstrated stability despite external economic pressures.
The U.S. housing market exhibited notable resilience during the first half of 2026, navigating challenges posed by geopolitical tensions and escalating oil prices. Data indicates positive year-over-year growth in both pending home sales and mortgage purchase applications. This upward trend is attributed to a combination of factors, including improved mortgage spreads and wage growth that has outpaced the rise in home prices. The market's ability to maintain stability and show positive indicators despite external economic headwinds suggests a strong underlying demand and a capacity to absorb inflationary pressures. The resilience observed points to a housing sector that is not being significantly derailed by the current global economic climate.