-5.5%
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In December 2024, all four U.S. regions experienced month-over-month losses in transactions, with the most significant fall in the West. Year-over-year, contract signings reduced in all four U.S. regions, with the Midwest seeing the largest decrease.
According to NAR Chief Economist Lawrence Yun, “After four straight months of gains in contract signings, one step back is not welcome news, but it is not entirely surprising. Economic data never moves in a straight line. High mortgage
Next release: Pending Home Sales for January 2025 will be released on Thursday, February 27, 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.