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Pending Home Sales

-2.1%

Latest News

Pending home sales in May slipped 2.1%, with the Midwest and South posting monthly losses in transactions while the Northeast and West recorded gains. Year-over-year, all U.S. regions registered reductions.

"The market is at an interesting point with rising inventory and lower demand," said NAR Chief Economist Lawrence Yun. "Supply and demand movements suggest easing home price appreciation in upcoming months. Inevitably, more inventory in a job-creating economy will lead to greater home buying, especially when mortgage rates descend."

Read the full news release.

Next release: Pending Home Sales for June 2024 will be released on Wednesday, July 31, 2024 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.

Pending Home Sales for June 2024 will be released on Wednesday, July 31, 2024, at 10 a.m. Eastern.

The NAR Public Affairs Office issues a news release on or near the 20th of each month with the latest existing-home sales figures. The releases include analysis and quotes by NAR's Chief Economist Lawrence Yun regarding the sales volume, prices, inventory and interest rates.

NAR Research Data Release Dates

Pending Home Sales data are provided by NAR solely for use as a reference. No part of the data may be reproduced, stored in a retrieval system, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without NAR's prior written consent for those who are not members of NAR.

Members of the media who need copies of previous months' pending home sales news releases can contact the NAR media communications team at 202-383-7515.

Data

Citation guidelines for NAR research and statistics

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Monthly Index

The monthly index covers the past 12 months for the nation and four regions. The data includes seasonally adjusted as well as not seasonally adjusted figures.

PHS Overview (PDF: 221 KB)

Quarterly Forecast

Quarterly U.S. Economic Outlook Forecast (PDF: 128 KB)

Historical Information

Historical data can be purchased in the REALTOR® Store.

Questions?

If you have questions about this data, please email them to data@nar.realtor. 

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