Pending home sales in the United States soared 8.3% month-over-month in December 2023, beating forecasts of a 1.5% increase, and rebounding from a revised 0.3% fall in November. It marks the first increase in three months and the strongest performance since June 2020, with sales rising in the Midwest, South and West while the Northeast recorded a loss in transactions. "The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices. Job additions and income growth will further help with housing affordability, but increased supply will be essential to satisfying all potential demand", said Lawrence Yun, NAR chief economist. Yun added that "home sales are projected to rise significantly in each of the next two years as the market steadily returns to normal sales activity". source: National Association of Realtors

Pending Home Sales MoM in the United States increased to 8.30 percent in December from -0.30 percent in November of 2023. Pending Home Sales MoM in the United States averaged 0.01 percent from 2001 until 2023, reaching an all time high of 40.50 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 February of 2024.

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United States Pending Home Sales MoM


Calendar GMT Reference Actual Previous Consensus TEForecast
2023-12-28 03:00 PM
Pending Home Sales MoM
Nov 0% -1.2% 1% 0.6%
2024-01-26 03:00 PM
Pending Home Sales MoM
Dec 8.3% -0.3% 1.5% 0.7%
2024-02-29 03:00 PM
Pending Home Sales MoM
Jan 8.3% 1% -2.5%


Related Last Previous Unit Reference
Pending Home Sales 1.31 -5.43 percent Dec 2023
Existing Home Sales 4000.00 3880.00 Thousand Jan 2024
Pending Home Sales MoM 8.30 -0.30 percent Dec 2023
Single Family Home Prices 379100.00 381400.00 USD Jan 2024

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
8.30 -0.30 40.50 -30.30 2001 - 2023 percent Monthly
SA

News Stream
US Pending Home Sales Soar
Pending home sales in the United States soared 8.3% month-over-month in December 2023, beating forecasts of a 1.5% increase, and rebounding from a revised 0.3% fall in November. It marks the first increase in three months and the strongest performance since June 2020, with sales rising in the Midwest, South and West while the Northeast recorded a loss in transactions. "The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices. Job additions and income growth will further help with housing affordability, but increased supply will be essential to satisfying all potential demand", said Lawrence Yun, NAR chief economist. Yun added that "home sales are projected to rise significantly in each of the next two years as the market steadily returns to normal sales activity".
2024-01-26
US Pending Home Sales Unexpectedly Flat
Pending home sales in the United States were unchanged in November 2023, following a revised 1.2% drop in October and falling short of the market consensus of a 1% rebound, suggesting the influx of potential buyers remains sluggish despite the easing of interest rates. Across various US regions, contract signings saw a decrease of 2.3% in the South, while the West (4.2%), Northeast (0.8%), and Midwest (0.5%) experienced increases. On a yearly basis, pending home sales declined 5.2%. "With mortgage rates falling further in December – leading to savings of around $300 per month from the recent cyclical peak in rates – home sales will improve in 2024," said Lawrence Yun, NAR chief economist.
2023-12-28
US Pending Home Sales Hit Record Low
Pending home sales in the US declined 1.5% month-over-month in October 2023, pushing the index to 71.4, the lowest since records began in 2001, as higher mortgage rates weighed on buyers' affordability. It follows a downwardly revised 1% rise in September and compares to market forecasts of a 2% drop. Sales were lower in the Midwest (-0.4%), South (-1.9%) and the West (-6%) but rose 2.7% in the Northeast. Home sales are rising in places where more inventory is available. "Recent weeks' successive declines in mortgage rates will help qualify more home buyers, but limited housing inventory is significantly preventing housing demand from fully being satisfied. Multiple offers, of course, yield only one winner, with the rest left to continue their search", said Lawrence Yun, NAR chief economist.
2023-11-30