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In June 2025, month-over-month and year-over-year pending sales declined in the Midwest, South, and West. In the Northeast, pending sales rose month-over-month but remained flat year-over-year.
According to NAR Chief Economist Lawrence Yun, "The data shows a continuation of small declines in contract signings despite inventory in the market increasing. Pending sales in the Northeast increased incrementally even though home price growth in the region has been the strongest in the country."
Next release: Pending Home Sales for July 2025 will be released on Thursday, August 28, 2025 at 10 a.m. Eastern.
The Pending Home Sales Index (PHS), a leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops. Because a home goes under contract a month or two before it is sold, the Pending Home Sales Index generally leads Existing-Home Sales by a month or two.