July 2026 brought a noticeable shift in the housing market, with U.S. pending home sales dropping 2.3% from the previous month and 2.2% compared to last year. Interestingly, the Midwest was the only region to see a yearly increase at 1.7%. Even with continued job growth, sales are still 30% below what we saw before the pandemic, which is a significant gap. Mortgage rates averaged 6.67%, and buyers are seeing more homes on the market. After 40 years navigating the ups and downs of Lake real estate, I know these numbers mean more than just statistics—they reflect the evolving opportunities and challenges for buyers and sellers alike. As always, my aim is to help make the process as smooth and stress-free as possible, no matter where the market stands.
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