Pending-Home Sales Improve Across the US

Pending-home sales improved in May. According to the National Association of Realtors, pending-home sales increased by 3.8% month-over-month and by 4.8% year-over-year.

Every region of the U.S. recorded an increase in pending sales

On both a month-over-month and year-over-year basis, each region of the U.S. saw pending-home sales increase. The most growth, however, was recorded in the Northeast and Midwest. There, pending sales ticked up by 8.7% month-over-month and by 6.1% year-over-year. Meanwhile, the Midwest recorded a 8.1% increase month-over-month and a 9.3% increase year-over-year.

Growth in the South and West were much smaller. In the South, there was a 1% increase month-over-month and a 3.3% increase year-over-year. Pending sales in the West grew by 0.7% month-over-month and by 1.2% year-over-year.

Which metros saw the biggest uptick in pending-home sales?

Despite regional growth in pending sales, the data at the metro level is much more varied. With an annual increase of 20.1%, Kansas City saw the biggest increase in pending-home sales. The San Antonio metro follows at 15.7%, and then Minneapolis at 13.9%.