Contracts to buy previously owned homes in the US fell 5.1 percent over a year earlier in May of 2020, following a record 33.8 percent plunge in the previous month due to the coronavirus crisis. Sales continued to fall in the Northeast (-33.2 percent), the West (-2.5 percent) and the Midwest (-1.4 percent) but rose in the South (1.9 percent). On a monthly basis, pending home sales surged 44.3 percent, the biggest rise ever and following a record 21.8 percent fall in April. Figures beat market forecasts of an 18.9% rise as every major region recorded an increase in month-over-month pending home sales transactions. "The outlook has significantly improved, as new home sales are expected to be higher this year than last, and annual existing-home sales are now projected to be down by less than 10 percent - even after missing the spring buying season due to the pandemic lockdown,” Lawrence Yun, NAR’s chief economist said.

Pending Home Sales in the United States averaged 0.60 percent from 2002 until 2020, reaching an all time high of 30.90 percent in October of 2009 and a record low of -33.80 percent in April of 2020. This page provides the latest reported value for - United States Pending Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Pending Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.

Pending Home Sales in the United States is expected to be -3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Pending Home Sales in the United States to stand at 2.50 in 12 months time. In the long-term, the United States Pending Home Sales is projected to trend around 1.70 percent in 2021, according to our econometric models.

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United States Pending Home Sales

Actual Previous Highest Lowest Dates Unit Frequency
-5.10 -33.80 30.90 -33.80 2002 - 2020 percent Monthly
Volume Index, SA


Calendar GMT Actual Previous Consensus TEForecast
2020-03-30 02:00 PM Feb 9.4% 5.8% 1.7% 1.5%
2020-04-29 02:00 PM Mar -16.3% 9.3% -2.3%
2020-05-28 02:00 PM Apr -33.8% -16.3% -22%
2020-06-29 02:00 PM May -5.1% -33.8% -16.2%
2020-07-29 02:00 PM Jun -3.5%
2020-08-27 02:00 PM Jul
2020-09-30 02:00 PM Aug
2020-10-29 02:00 PM Sep -2.5%


News Stream
US Pending Home Sales Continue to Fall
Contracts to buy previously owned homes in the US fell 5.1 percent over a year earlier in May of 2020, following a record 33.8 percent plunge in the previous month due to the coronavirus crisis. Sales continued to fall in the Northeast (-33.2 percent), the West (-2.5 percent) and the Midwest (-1.4 percent) but rose in the South (1.9 percent). On a monthly basis, pending home sales surged 44.3 percent, the biggest rise ever and following a record 21.8 percent fall in April. Figures beat market forecasts of an 18.9% rise as every major region recorded an increase in month-over-month pending home sales transactions. "The outlook has significantly improved, as new home sales are expected to be higher this year than last, and annual existing-home sales are now projected to be down by less than 10 percent - even after missing the spring buying season due to the pandemic lockdown,” Lawrence Yun, NAR’s chief economist said.
2020-06-29
US Pending Home Sales Fall at Record Pace
Contracts to buy previously owned homes in the US slumped 33.8 percent over a year earlier in April of 2020, following a 16.3 percent plunge in the previous month. It was the biggest annual decline ever in pending home sales due to the coronavirus crisis. Pending home sales were down in all regions: the Northeast (-52.6%), the Midwest (-26%), the South (-29.6%) and the West (-37.2%). On a monthly basis, pending home sales went down 21.8, also the largest drop on record, after a 20.8 percent plunge in March and worse than forecasts of a 15 percent fall. "While coronavirus mitigation efforts have disrupted contract signings, the real estate industry is ‘hot’ in affordable price points with the wide prevalence of bidding wars for the limited inventory. In the coming months, buying activity will rise as states reopen and more consumers feel comfortable about homebuying in the midst of the social distancing measures”, Lawrence Yun, NAR’s chief economist said.
2020-05-28
US Pending Home Sales Fall the Most in Nearly 9 Years
Contracts to buy previously owned homes in the US dropped 16.3 percent over a year earlier in March 2020, following a downwardly revised 9.3 percent gain in the previous month. It was the biggest annual decline since April 2011, amid the coronavirus crisis. Pending home sales were down in all regions: the Northeast (-11%), the Midwest (-12.4%), the South (-17.8%) and the West (-21.5%). On a monthly basis, pending home sales went down 20.8, the largest drop since May 2010, after a downwardly revised 2.3 percent rise in the previous month and compared with market expectations of a 10 percent fall. “The housing market is temporarily grappling with the coronavirus-induced shutdown, which pulled down new listings and new contracts,” said Lawrence Yun, NAR’s chief economist. “As consumers become more accustomed to social distancing protocols, and with the economy slowly and safely reopening, listings and buying activity will resume, especially given the record low mortgage rates,” Yun added.
2020-04-29
US Pending Home Sales Beat Forecasts
Contracts to buy previously owned homes in the US increased 9.4% yoy in February of 2020, following an upwardly revised 5.8% rise in January and beating market forecasts of a 1.7% increase. It is the biggest annual gain since May of 2015, as pending home sales were up in all regions: the Northeast (5.9%), the Midwest (14.9%), the South (7.1%) and the West (10.8%). On a monthly basis, pending home sales went up 2.4%, well below an upwardly revised 5.3% jump in January but beating forecasts of a 1% fall. All regions saw a rise in pending home sales. 'February’s pending sales figures show the housing market had been very healthy prior to the coronavirus-induced shutdown. Numbers in the coming weeks will show just how hard the housing market was hit, but I am optimistic that the upcoming stimulus package will lessen the economic damage and we may get a V-shaped robust recovery later in the year', said Lawrence Yun, NAR’s chief economist.
2020-03-30

United States Pending Home Sales
Pending Home Sales Index is based on sales of existing homes where the contract has been signed but the transaction has not been closed. The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined.