Pending-Home Sales Tick Up Slightly

In March, pending-home sales increased slightly from the prior month. However, on a year-over-year basis, they’re still down by 1.1%
May 1, 2026
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Real estate agent holds up key and model home

Pending-home sales increased by 1.5% in March. 

Pending-home sales increased in March, but they’re still down slightly from the same time last year. According to a recent report from the National Association of Realtors, pending sales increased by 1.5% in March from February, and they were down by 1.1% year-over-year.

Demand sensitivity to mortgage rates is greatest among first-time buyers, particularly younger buyers. As a result, boosting supply and new-home construction should focus on smaller, more affordable homes. A good number of markets in the South experienced price cuts over the past year but recorded the strongest job growth. That combination should lead to stronger housing market activity in the South this year.

- Lawrence Yun, National Association of Realtors chief economist

Which metros saw the largest annual increases in pending-home sales?

While pending sales saw a slight uptick on a nationwide scale, some metros saw much larger year-over-year increases. Kansas City, for instance, saw pending-home sales increase by 14.9% year-over-year, and in Milwaukee, they increased by 13.5%. In Austin, Texas, and Phoenix, they rose by a respective 12.8% and 12.1%, respectively. Raleigh took the fifth spot, recording an uptick of 10%.

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