Pending home sales in the United States rose by 1.9% in October compared to the previous month, according to the National Association of Realtors (NAR) Pending Home Sales Report released on November 25, 2025. However, pending sales were down 0.4% from the same period last year.
The report shows that month-over-month increases occurred in the Northeast, Midwest, and South regions, while the West experienced a decline. On a year-over-year basis, pending home sales increased in the Midwest and South but fell in both the Northeast and West.
NAR Chief Economist Lawrence Yun commented on regional differences: "The Midwest shined above other regions due to better affordability, while contract signings retreated in the more expensive West region." He added, "Days on the market typically lengthen from November through February, providing better negotiating power to buyers during the holiday season."
Yun also addressed broader economic conditions: "Job gains in September, following the data blackout, are reassuring and suggest the economy is not slipping into a recession. This may boost confidence in future homebuying."
According to NAR’s REALTORS Confidence Index survey for October, 17% of members expect an increase in buyer traffic over the next three months—down from 20% in September and 19% one year ago. Meanwhile, 16% anticipate an increase in seller traffic, compared with 19% last month and one year prior.
Regionally for October:
- The Northeast saw a 2.3% monthly increase but a 1.0% decrease year over year.
- The Midwest posted a 5.3% monthly rise and a 0.9% annual gain.
- The South recorded a 1.4% monthly increase and a 2.0% annual gain.
- The West had a 1.5% monthly decline and was down by 7.0% compared to last year.
The Pending Home Sales Index (PHSI), which tracks contract signings as an early indicator of future completed sales transactions, serves as a leading measure for housing sector activity based on about 40% of multiple listing service data each month.
NAR notes that variations between pending contracts and completed sales can occur due to factors such as mortgage financing issues or appraisal problems.
Existing-home sales data for November will be released on December 19; the next Pending Home Sales Index update is scheduled for December 29 at 10 a.m. Eastern time.
For consumer guides related to buying or selling homes—including information about written buyer agreements or negotiating compensation—resources are available at facts.realtor.
