“A small deceleration in home price gains would be a welcome improvement for affordability. With real estate asset valuation at $52 trillion, each percentage point gain in home prices adds more than $500 billion to the household balance sheet,” added Yun. #NAREHS

First-time buyers were responsible for 32% of sales in March; Individual investors purchased 15% of homes; All-cash sales accounted for 26% of transactions; Distressed sales represented 3% of sales; Properties typically remained on the market for 36 days. #NAREHS

The National Association of REALTORS® will release Pending Home Sales data for March 2025 today at 10 a.m. Eastern. NAR Research #NARPHS

Pending home sales increased 6.1% in March – the greatest month-to-month increase since December 2023 (+7.0%). The NE experienced month-over-month losses in transactions, while the MW, SO and WE saw gains, which were most substantial in the South. #NARPHS nar.realtor/newsroom/pendi…

The Pending Home Sales Index (PHSI) augmented 6.1% to 76.5 in March. Year-over-year, pending transactions lessened by 0.6%. #NARPHS

“Buyers are sensitive to even minor fluctuations in mortgage rates,” said Lawrence Yun. “While contract signings are not a guarantee of closings, the solid rise in pending home sales implies a sizable build-up of potential home buyers, fueled by ongoing job growth.” #NARPHS

Compared to one month ago, pending home sales declined in the NE, while the MW, WE – and especially the SO – underwent increases. Year-over-year, contract signings rose in the MW. However, the NE, SO and WE declined – with the biggest drop in the NE. #NARPHS

The National Association of Realtors® will release its Q1 2025 metro home prices data at 10 a.m. Eastern. NAR Research #NARQuarterly

More than 80% of metro markets (189 out of 228, or 83%) registered home price gains in the first quarter of 2025, as the 30-year fixed mortgage rate ranged from 6.63% to 7.04%, according to NAR's latest quarterly report. nar.realtor/newsroom/more-…

Single-family existing-home sales prices climbed in 83% of measured metro areas – 189 of 228 – in the first quarter, down from 89% in the prior quarter.

The national median single-family existing-home price rose 3.4% from a year ago to $402,300.

The National Association of Realtors® will release Existing-Home Sales data for April 2025 today at 10 a.m. Eastern. NAR Research #NAREHS

Year-over-year, sales descended 2.0% (down from 4.08 million in April 2024). #NAREHS

Existing-Home Sales Edged Lower by 0.5% in April nar.realtor/newsroom/exist…

“Home sales have been at 75% of normal or pre-pandemic activity for the past 3 years, even with 7M jobs added to the economy,” said Yun. “Pent-up demand continues to grow, though not realized. Any meaningful decline in mortgage rates will help release this demand.” #NAREHS

The National Association of REALTORS® will release Pending Home Sales data for April 2025 today at 10 a.m. Eastern. NAR Research #NARPHS

Pending home sales decreased 6.3% in April. All four U.S. regions experienced month-over-month losses in transactions. Year-over-year, contract signings rose in the Midwest but descended in the Northeast, South and West. #NARPHS nar.realtor/newsroom/pendi…

The Pending Home Sales Index (PHSI) dove 6.3% to 71.3 in April. Year-over-year, pending transactions retracted by 2.5%. #NARPHS

“At this critical stage of the housing market, it is all about mortgage rates,” said NAR's Lawrence Yun. “Despite an increase in housing inventory, we are not seeing higher home sales. Lower mortgage rates are essential to bring home buyers back into the housing market.” #NARPHS

Compared to one month ago, pending home sales fell in all four U.S. regions. Year-over-year, contract signings ascended in the Midwest. Conversely, the Northeast, South and West reduced – with the biggest downswing in the West, followed by the South. #NARPHS