Pending home sales have dropped in most US states, specifically the Northeast, South, and West, while the number of actual home sales in Oregon also dropped- by 8.9%.
Number of National Home Sales Pending Drops
In a recent report, the National Association of Realtors (NAR) noted that pending home sales declined month over month in all four U.S. regions. The Midwest was the only region to record a year over year increase. Pending home sales:
- Decreased 2.3% month over month.
- Decreased 2.2% year over year.
The NAR confirmed that, in July, pending home sales fell to the lowest level since January this year.
| Measure | 2021 average | August 2026 |
| 30 year mortgage rate | 2.96% | 6.66% |
| 20% down payment | $105,000 | $105,000 |
| Mortgage amount | $420,000 | $420,000 |
| Monthly principal and interest | About $1,762 | About $2,699 |
| Monthly difference | Baseline | About $937 more |
Source: Freddie Mac mortgage rates / Oregon median price from July 2026 market data
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The association attributed the weakness to the year’s highest mortgage rates arriving during summer and home prices remaining at record highs.
All four regions recorded monthly declines, but the West fell 4.7% month over month and 7.1% year over year. Pending contracts remain 30% below their pre-pandemic 2019 level.
Source: National Association of Realtors July 2026 Pending Home Sales Report
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Number of Oregon Home Sales Actually Completed Plummet by 8.9%
While NAR measured pending contracts, the number of actual house sales completed in Oregon also weakened, falling to 8.9% year over year. Statewide sales totaled 4,128, compared with 4,530 in July 2025.
The median house sales price in Oregon increased 1.1% from July 2025 and reached $525,000 this year. But listings declined 5.1% year over year. Oregon had 24,134 active and pending listings, and statewide inventory stood at 6.07 months, which the report classifies as balanced.