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High mortgage rates keep lid on housing demand as pending sales slide

Contract activity falls to lowest level since January despite healthy labor conditions
San Antonio saw a nearly 12% boost in pending sales in July. Above, homes in the Alamo Farmsteads neighborhood. (Jeffrey Seaman/CoStar)
San Antonio saw a nearly 12% boost in pending sales in July. Above, homes in the Alamo Farmsteads neighborhood. (Jeffrey Seaman/CoStar)
By CoStar News Staff
August 18, 2026 | 6:16 P.M.

After steady growth during the spring buying season, contracts to purchase existing single-family houses and condos fell for the second straight month in July.

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