Pending sales grew in every region of the U.S.

Going All-In

Some agents make 60 calls and call it a day. Others don't stop until they've booked two appointments. Same hours. Completely different standard.

That's what going all-in looks like.

In today's Blueprint, I sit down with Krys Benyamein, a Southern California agent who embodies that mindset. He left a career as a public defender with zero sales experience, committed fully to the business, and has since sold more than 600 homes.

One habit stood out to me: he doesn't stop creating content until he reaches his daily goal. Not most days. Every day.

Success rarely comes from one breakthrough moment. More often, it's the product of hundreds of ordinary days where you refuse to let yourself off the hook.

Scroll down to today's Foundation Plans. Come ready to take action — the bar just got higher.

- James

Pending sales grew in every part of the country

Every major region posted year-over-year growth in pending sales for the week ending June 20, even with mortgage rates hovering near 6.6%. That's according to HousingWire's latest market update.

Here are the key takeaways:

• Pending sales grew everywhere — The Midwest led with 9.0% year-over-year growth, followed by the West (8.4%), South (6.9%), and Northeast (4.1%). Nationwide, pending sales rose from 70,352 a year ago to 75,489 as of June 2026. 

• National inventory looks flat, but the regional picture is splitting — Active inventory was nearly unchanged from a year ago (+0.25%), masking a significant divergence. The Northeast (+7.2%) and Midwest (+5.5%) are adding supply, while the South (-0.8%) and West (-2.8%) are tightening after leading the inventory recovery over the past two years.

• The South is the market to watch — The region accounts for 55% of all active listings nationwide. Its inventory is now declining modestly year over year, which means if that trend continues, the national inventory picture could shift negative in the second half of 2026.

• The West may be further along in its recovery than most realize — Inventory is falling, pending sales are rising, and the share of listings with price cuts dropped from 38.1% to 36.3% — the biggest improvement of any region.

My take

Even with all the disruptions and uncertainties we’ve faced this year, homebuyers are still showing up. Pending sales grew across every major region last week, even with mortgage rates hovering near 6.6% — a sign that demand is broader and more resilient than many expected. But the more surprising story is inventory. It's moving in opposite directions: the Northeast and Midwest are adding supply after years of shortages, while the South and West are tightening again. That matters because the South alone holds 55% of all active listings, meaning its trajectory will drive the national story in the second half of the year. Watch the South.

Housing markets where homebuyers have gained the most power

The typical U.S. home listed for sale in May 2026 went pending after roughly 18 days, three times longer than the 6-day national median recorded in May 2022, according to ResiClub’s analysis of Zillow’s data. 

Median days to pending is a window into the supply-demand dynamics of any market. In near real-time, it often signals shifts in conditions weeks before closed-sales data catches up. Longer times to pending mean buyers are gaining leverage; shorter times mean the market is tightening.

Here are the top metros with the longest and shortest median days to pending via ResiClub:

My take

The story is really two housing markets wearing the same national label. Sun Belt buyers — particularly in Florida and Texas — have quietly accumulated real negotiating power over the past few years: more inventory, more time to compare listings, more room to ask for concessions. Meanwhile, buyers in the Northeast and Midwest are still competing in markets where homes go pending in days, not months. The gap between these two realities is only widening.

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States with the highest share of homes underwater

ATTOM’s Q1 2026 data shows the share of seriously underwater mortgages remains low nationwide at just 3.2% of outstanding loans, up slightly from 2.8% a year ago. 

A loan is considered “seriously underwater” when the combined mortgage balance is at least 25% more than the property’s estimated market value.

Here are the top 10 states with the highest share of seriously underwater mortgages:

1. Louisiana: 11.8%

2. Kentucky: 8.5%

3. Mississippi: 8%

4. Oklahoma: 6.6%

5. Arkansas: 6.4%

6. Iowa: 6%

7. Kansas: 5%

8. Missouri: 4.9%

9. Illinois: 4.9%

10. West Virginia: 4.5%

My take

Underwater mortgages remain rare by historical standards, but the trend line deserves attention. The share of seriously underwater homes has risen in 44 states quarter-over-quarter and 45 states year-over-year — that's not a blip, it's a broad-based shift. Equity is still a bright spot for most homeowners, but after years of remarkable strength, it's showing early signs of erosion. For agents, this is a nudge to get proactive: homeowners who bought in the last two to three years in softer markets are worth a check-in, and helping clients understand their equity position — before it potentially weakens further — is a real service that opens the door to meaningful conversations about refinancing, selling, or simply staying informed.

Schematics

The news that just missed the cuts

• This is how you use AI to create great listing descriptions that convert

• ‘Gen Z's views on homeownership should concern everyone in housing

• The ultimate agent script pack: scripts for any lead, any time

• The 7 levels of luxury explained

• Investors seeking hands-off cash flow are pouring money into these two real estate strategies.

Foundation Plans

Advice from James to win the day

As I mentioned up top, I sat down with Krys Benyamein for the latest episode of Rise Above Ranks — and this one is genuinely different.

Krys went from public defender to real estate agent with zero sales experience. He's since sold over 600 homes. Oh, and somewhere in between: He climbed Mount Everest. 

I first crossed paths with Krys at a real estate conference years ago and immediately noticed something about him — an energy you don't forget. I've been watching his journey ever since, and this conversation did not disappoint.

Krys is proof that reinvention is possible when you commit to showing up every single day. Just listen to what focus, daily consistency, and an “all-in” mentality can achieve.

Watch the full conversation here:

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Just in Case

Keep the latest industry data in your back pocket with today’s mortgage rates:

“Your time is limited, so don’t waste it living someone else’s life.” — Steve Jobs

Each day is a gift – a chance to live the life you want. Ruthlessly focus on your goals. Don’t let your past or the fear of being judged distract or paralyze you. Choose to live with an integrity that you can be proud of.

Have a wonderful weekend, and I’ll see you back here next Friday!

- James