by NAR also reports gains in all 4 regions of the country in year-over-year and month-over-month activity
WASHINGTON — Pending home sales rose by 4.8% from May 2025 and 3.8% from April, according to the National Association of Realtors, a sign that spring and summer closings could also mean a boost in furniture sales.
In both time periods, there were gains in the Northeast, Midwest, South and West, the report noted, a positive for all regions at a time when mortgage rates remain stable if not as low as needed to encourage new and existing homeowners to make a move.
“A late spring buyer rush — even with mortgage rates not budging — is an indication of pent-up housing demand and consumers’ acceptance of above-6% mortgage rates as the new normal,” said NAR Chief Economist Lawrence Yun. “The inventory-constrained Northeast region, which has seen faster home price growth but slower home sales for several months, is now showing more buyer contract signings. More supply is needed to help moderate home price growth.”
The report is based on single-family homes, condos and co-ops that have gone under contract, with closings expected a month or two later. Thus the marketplace could see a commensurate boost in existing home sales in June and July, and new homeowners are likely to begin shopping for furniture before the sale closes.
The NAR also noted that the amount of time between pending contracts and completed sales is not identical for all home sales. These variations can be caused by buyer difficulties obtaining mortgage financing, appraisal issues and issues involving home inspections.
By region, pending home sales activity was as follows:
+ In the Northeast, there was a 6.1% increase year over year and an 8.7% increase month over month.
+ In the Midwest, there was a 9.4% increase year over year and an 8.1% increase month over month.
+ In the South, there was a 3.3% increase year over year and a 1% increase month over month.
+ In the West, there was a 1.2% increase year over year and a .7% increase month over month.
The NAR also noted that the following major metro markets posted the largest year-over-year increases in pending home sales:
- Kansas City, MO-KS (+20.1%)
- San Antonio-New Braunfels, TX (+15.7%)
- Minneapolis-St. Paul-Bloomington, MN-WI (+13.9%)
- Miami-Fort Lauderdale-West Palm Beach, FL (+11.4%)
- Louisville/Jefferson County, KY-IN (+11.2%)
- Cincinnati, OH-KY-IN (+10.1%)
- Nashville-Davidson–Murfreesboro–Franklin, TN (+9.4%)
- Milwaukee-Waukesha, WI (+8.7%)
- Virginia Beach-Chesapeake-Norfolk, VA-NC (+8.2%)
- Richmond, VA (+8.2%)
