Pending home sales in the US fell by 4.6% month-over-month in October of 2022, the fifth consecutive decline, but slightly below market forecasts of a 5% retreat. Pending home sales fell for the fifth month in a row in the Northeast (-4.3%) and in the South (-6.4%), while the West (-11.3%) slumped for a second month. Year-over-year, pending home sales fell by 37%, the sharpest decline on record. "October was a difficult month for home buyers as they faced 20-year-high mortgage rates. The upcoming months should see a return of buyers, as mortgage rates appear to have already peaked and have been coming down since mid-November", said NAR Chief Economist Lawrence Yun. source: National Association of Realtors

Pending Home Sales MoM in the United States averaged 0.02 percent from 2001 until 2022, reaching an all time high of 41.90 percent in May of 2020 and a record low of -30.30 percent in May of 2010. This page includes a chart with historical data for the United States Pending Home Sales MoM. United States Pending Home Sales MoM - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.

Pending Home Sales MoM in the United States is expected to be -1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Pending Home Sales MoM is projected to trend around 2.00 percent in 2023 and 0.30 percent in 2024, according to our econometric models.

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United States Pending Home Sales MoM



Calendar GMT Actual Previous Consensus TEForecast
2022-10-28 02:00 PM Sep -10.2% -1.9% -5% -2.5%
2022-11-30 03:00 PM Oct -4.6% -8.7% -5% -3.8%
2022-12-28 03:00 PM Nov -4.6%


Related Last Previous Unit Reference
Pending Home Sales -37.00 -31.00 percent Oct 2022
Existing Home Sales 4430.00 4710.00 Thousand Oct 2022
Pending Home Sales MoM -4.60 -8.70 percent Oct 2022
Single Family Home Prices 379100.00 384800.00 USD Oct 2022

United States Pending Home Sales MoM
The Pending Home Sales Index, 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. When a seller accepts a sales contract on a property, it is recorded into a Multiple Listing Service (MLS) as a "pending home sale." The majority of pending home sales become home sale transactions, typically one to two months later. The National Association of Realtors collects pending home sales data from MLSs and large brokers. Altogether, data from over 100 MLSs & 60 large brokers is received providing a large sample size covering 50% of the existing home sales sample. This is equal to 20 percent of all transactions.
Actual Previous Highest Lowest Dates Unit Frequency
-4.60 -8.70 41.90 -30.30 2001 - 2022 percent Monthly
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News Stream
US Pending Home Sales Decline for 5th Month
Pending home sales in the US fell by 4.6% month-over-month in October of 2022, the fifth consecutive decline, but slightly below market forecasts of a 5% retreat. Pending home sales fell for the fifth month in a row in the Northeast (-4.3%) and in the South (-6.4%), while the West (-11.3%) slumped for a second month. Year-over-year, pending home sales fell by 37%, the sharpest decline on record. "October was a difficult month for home buyers as they faced 20-year-high mortgage rates. The upcoming months should see a return of buyers, as mortgage rates appear to have already peaked and have been coming down since mid-November", said NAR Chief Economist Lawrence Yun.
2022-11-30
US Pending Home Sales Tank in September
Pending home sales in the US slumped by 10.2% month-over-month in September of 2022, the third consecutive decline and the steepest since April of 2020. Pending home sales fell for a third month in a row in the Northeast (-16.3%), the Midwest (-8.8%), and the South (-11.7%), while the West (-8.1%) slumped after a marginal increase in the prior month. "Persistent inflation has proven quite harmful to the housing market. The Federal Reserve has had to drastically raise interest rates to quell inflation, which has resulted in far fewer buyers and even fewer sellers”, said NAR Chief Economist Lawrence Yun. Year-over-year, pending home sales tumbled by 31%.
2022-10-28
US Pending Home Sales Fall for 3rd Month
Pending home sales in the US were down 2% month-over-month in August of 2022, a third consecutive monthly decline, and worse than market forecasts of a 1.4% fall. For the second month in a row, pending sales retreated in the Northeast (-3.4%), Midwest (-5.2%) and South (-0.9%), while the West, again, registered a small increase (1.4%). "The direction of mortgage rates - upward or downward - is the prime mover for home buying, and decade-high rates have deeply cut into contract signings. If mortgage rates moderate and the economy continues adding jobs, then home buying should also stabilize", said NAR Chief Economist Lawrence Yun.
2022-09-28