Pending-Home Sales Increase in February

Pending-home sales ticked up slightly at the beginning of the year. According to the National Association of Realtors, pending-home sales increased by 1.8% in February from the prior month. However, on a year-over-year basis, pending sales were still down by 0.8%.

Which areas saw the biggest uptick in pending sales?

On both a month-over-month basis and a year-over-year, pending sales increased in both the Southern and Western regions of the U.S. This trend held true at the metro level as well, with Southern and Western cities reporting the largest annual upticks in pending sales.

The San Diego metro saw the largest annual increase at 13.5%, followed by Jacksonville, Fla., at 12.1%, San Jose, Calif., at 10.6%, Denver at 10.5%, and then Miami at 10%.