Pending-Home Sales Fall Across the U.S.

Pending-home sales are on the decline, with recent data from the National Association of Realtors showing a 6.3% decrease in pending transactions from March to April 2025. On a year-over-year basis, pending sales decreased by 2.5%. Month-over-month, all regions of the U.S. saw pending sales fall.

However, when looking at the data on a year-over-year basis, contract signings rose in the Midwest but fell in the South, Northeast, and West. At 8.9%, the Western U.S. saw pending sales fall the most.

"At this critical stage of the housing market, it is all about mortgage rates," said NAR Chief Economist Lawrence Yun. "Despite an increase in housing inventory, we are not seeing higher home sales. Lower mortgage rates are essential to bring home buyers back into the housing market."