by Numbers offer a positive outlook for actual closings in the coming weeks and months
WASHINGTON — In a potential sign of positive news for the furniture industry, pending home sales rose 3.2% from April 2025 and rose by 1.4% from March, the National Association of Realtors reported on Tuesday.
The NAR said that year-over-year pending home sales rose in the Midwest, South and West and declined in the Northeast, while they rose in the Northeast, Midwest and West and declined in the South from March.
“Buyers are coming out with cautious optimism despite increasing economic uncertainty and a slight rise in mortgage rates,” said NAR Chief Economist Lawrence Yun. “Demand will easily be even higher once mortgage rates retreat to the levels they were at earlier this year.”
However, he also noted that prices are higher than last year, which could prevent many buyers from entering the market, in turn causing them to delay furniture purchases.
“Historically low foreclosure sales imply minimal price discounts, with a majority of markets selling at a higher price from a year ago,” Yun added. “Unless supply meaningfully increases, home price growth could outpace wage growth and further erode the homeownership rate. All efforts need to be focused on boosting housing supply.”
By region, pending home sales were as follows in April:
In the Northeast, they declined .6% from April 2025 and rose 6.6% from March.
In the Midwest, they rose 2.7% from April 2025 and rose 3% from March.
In the South, they rose 4.7% from April 2025 and declined .7% from March.
+ In the West, they rose 3.8% from April 2025 and rose .4% from March.
Pending sales occur when a contract has been signed but the transaction has not closed. The closing typically happens a month or two after the contract is signed.
The NAR noted, however, that the time between pending contracts and home sales is not identical for all home sales and that this could be impacted by difficulties obtaining mortgage financing, or issues with home inspections or appraisals.
Based on data from Realtor.com Economics, the report also cited the following 10 markets with the highest percentage annual increases in pending home sales:
- Boston-Cambridge-Newton, MA-NH (+10.3%)
- Miami-Fort Lauderdale-West Palm Beach, FL (+9.4%)
- Oklahoma City, OK (+8.6%)
- Milwaukee-Waukesha, WI (+7.4%)
- Virginia Beach-Chesapeake-Norfolk, VA-NC (+7.2%)
- Raleigh-Cary, NC (+5.7%)
- Dallas-Fort Worth-Arlington, TX (+5.5%)
- Washington-Arlington-Alexandria, DC-VA-MD-WV (+5.4%)
- Columbus, OH (+5.4%)
- Charlotte-Concord-Gastonia, NC-SC (+5.1%)
- While these numbers are a good indicator of potential home sales in these respective markets, activity likely also is occurring in surrounding regions, offering retailers in these respective regions a good audience to attract to their stores in the coming weeks and months. As always, it makes sense to have your store be top of mind for consumers looking to beautify their new homes with furniture that likely will last many years to come with the proper care.
