Weekly housing inventory data
The past week saw a decrease in inventory, which was expected due to the snowstorm. The decline was significant, mainly attributed to the weather affecting new listings data. However, as the impact of the storm fades, we anticipate a return to normalcy. Inventory growth, which peaked at 33% in 2025, is now under 9% year over year. With spring approaching, year-over-year comparisons may become more challenging.
- Weekly inventory change (Jan. 30 – Feb. 6): Inventory decreased from 696,222 to 687,697
- Same week last year (Jan. 31 – Feb. 7): Inventory decreased from 634,936 to 632,325
New listings data
While new listings data saw a slight decrease week-to-week, there was a substantial drop year over year, largely due to weather conditions. The expectation is for a resurgence in new listings as we approach the peak months, possibly surpassing 80,000 listings for the first time in years. During the housing bubble crash, new listings ranged from 250,000 to 400,000 per week for an extended period.
New listings data for the last week in the past two years:
- 2026: 48,365
- 2025: 53,861
Price-cut percentage
Typically, around one-third of homes undergo price reductions before selling, reflecting the housing market’s dynamic nature. With mortgage rates and inventory on the rise, the percentage of price cuts tends to increase. However, recent data shows negative year-over-year price-cut percentages, indicating a shift in demand and inventory dynamics.
Last week’s price-cut percentage:
Mortgage purchase application data
Purchase applications have shown strong growth at the beginning of the year, surpassing expectations. However, last week’s data was impacted by the snowstorm, resulting in a 14% decrease week over week, while still showing a 4% increase year over year. Such significant weekly declines are usually associated with drastic rate changes, but in this case, it was weather-related.
2026 data so far:
- 2 positive week-over-week results
- 1 negative week-to-week prints
- 1 flat week-to-week print
- 3 weeks of double-digit year-over-year growth
Weekly pending sales
Weekly pending sales data can provide insights, although it may be influenced by short-term factors like holidays and fluctuations. Last week, pending sales were negatively impacted by the snowstorm, showing declines both week over week and year over year. Typically, pending sales data correlates with existing home sales reports within 30-60 days.
Weekly pending sales for the last week in recent years:
- 2026: 54,255
- 2025: 57,511
10-year yield and mortgage rates
In the 2026 HousingWire forecast, anticipated ranges for mortgage rates and the 10-year yield were outlined. Despite economic challenges last week, mortgage rates remained relatively stable, with minimal movement. The 10-year yield, although showing some fluctuations, has stayed within a low-level range since September 2025.
Mortgage rates saw little change last week, ending lower at 6.15%, according to Mortgage News Daily, while mortgage rate lock data from Polly reported a weekend rate of 6.25%.
Mortgage spreads
Mortgage spreads in 2026 have been favorable for housing, reducing mortgage rate volatility and approaching normal levels. Last week’s spreads closed at 1.84%, slightly above historical ranges. With spreads returning to normal, mortgage pricing can remain competitive.
The week ahead: BLS Jobs report, Fed speeches, and existing home sales
The upcoming week is packed with significant data releases, including the BLS Jobs report, retail sales data, Fed speeches, and the existing home sales report. With the nomination of Kevin Warsh as the next Fed chair, the Fed speeches are expected to draw increased attention. Keep an eye on wage growth and job revisions in the BLS Jobs report, as existing home sales data may face snow-related impacts.