Pending-Home Sales Decline Slightly in January

Pending-home sales fell slightly in January, both on a year-over-year and month-over-month basis. According to a recent report from the National Association of Realtors, pending sales fell by 0.8% from December 2025 and by 0.4% from the prior year, despite increasingly favorable market conditions that traditionally spur activity.

Some regions still saw pending sales increase

Month-over-month pending-home sales rose in the Midwest and West, and declined in the Northeast and South, while year-over-year pending-home sales increased in the South and West and declined in the Northeast and Midwest.

The Northeast saw the largest declines, falling 5.7% month-over-month and by 8.3% year-over-year. Meanwhile, on a month-over-month basis, the Midwest saw pending sales increase the most, rising by 5.5% from the month prior. The South saw the most year-over-year growth, recording a 4% increase from January 2025.

In which metros did pending sales grow the most?

In some metros, pending sales grew even more. The Phoenix metro saw the largest year-over-year increase, rising by 11.8%, followed by Boston and Charlotte, N.C., at 10.7%, and then San Francisco at 8.9%.