After falling for the last few months, pending-home sales increased month-over-month in August. According to the National Association of Realtors’ Pending Home Sales Report, pending deals increased 0.3% month-over-month. Still, they decreased by 4.7% on a year-over-year basis.

The South and West were the only regions to see pending sales increase

In August, both the South and West saw respective 2.3% and 3% month-over-month increases. Still, the South and West recorded declines of 3.8% and 6.7%, respectively, on a year-over-year basis. In the Northeast and Midwest, pending-home sales decreased on both a month-over-month and year-over-year basis.

Some markets recorded considerable growth

Richmond, Va., saw pending sales increase the most at 11.3% year-over-year, followed by San Antonio at 6.6%, Memphis at 6.4%, Virginia Beach, Va., at 5.1%, and Cincinnati at 4.7%.