The real estate market showed encouraging signs in April 2026, with pending home sales experiencing a modest rise of 1.4% from the previous month. According to the National Association of REALTORS® (NAR), this figure reflects a 3.2% increase compared to the same month last year. The NAR’s Pending Home Sales report offers valuable insights for agents, buyers, and sellers about contract levels in the housing market.
Regional Trends in Pending Home Sales
Pending home sales varied across different U.S. regions. Notably:
- Northeast: Increased by 6.6% month over month, but decreased by 0.6% year over year.
- Midwest: Grew by 3.0% month over month and 2.7% year over year.
- South: Experienced a 0.7% decline month over month, but a significant increase of 4.7% year over year.
- West: Increased slightly by 0.4% month over month and 3.8% year over year.
Insights from NAR Chief Economist
Dr. Lawrence Yun, NAR’s Chief Economist, commented on the trends, noting that buyers have shown cautious optimism despite ongoing economic uncertainties and a slight uptick in mortgage rates. He suggested that if mortgage rates were to decline, demand would likely rise even further.
Yun also highlighted the impact of historically low foreclosure rates on home prices, suggesting that most markets are witnessing higher prices compared to last year. He emphasized that increased housing supply is essential to keep pace with home price growth.
Top Markets for Pending Home Sales
Among the 50 largest metropolitan areas, several markets reported notable year-over-year gains in pending home sales. The following ten areas posted the largest increases:
- Boston-Cambridge-Newton, MA-NH: +10.3%
- Miami-Fort Lauderdale-West Palm Beach, FL: +9.4%
- Oklahoma City, OK: +8.6%
- Milwaukee-Waukesha, WI: +7.4%
- Virginia Beach-Chesapeake-Norfolk, VA-NC: +7.2%
- Raleigh-Cary, NC: +5.7%
- Dallas-Fort Worth-Arlington, TX: +5.5%
- Washington-Arlington-Alexandria, DC-VA-MD-WV: +5.4%
- Columbus, OH: +5.4%
- Charlotte-Concord-Gastonia, NC-SC: +5.1%
Conclusion
The NAR report indicates a positive trajectory for pending home sales, with significant year-over-year growth in many regions. As the market navigates economic challenges, the focus on increasing housing supply will be critical for sustaining this growth. The next Pending Home Sales Index report is scheduled for release on June 17.
