• NAR released a summary of pending home sales data showing that April’s pending home sales rose 1.4% from last month and increased 3.2% from a year ago.
April pending home sales rose 1.4% monthly and 3.2% annually.
  • Pending sales represent homes that have a signed contract to purchase them but have yet to close. They tend to lead existing-home sales data by one to two months.
  • Three of the four regions showed increases in sales from a year ago. The South region had the largest gain, at 4.7%, followed by the West with an increase of 3.8%. The Midwest region increased by 2.7%, while the Northeast region experienced the only decline, at 0.6%.
Bar graph showing year-over-year pending home sales: South +4.7%, West +3.8%, Midwest +2.7%, Northeast -0.6%.
  • From last month, three of the four regions showed increases in contract signings. The Northeast region experienced the largest gain, at 6.6%, followed by the Midwest with an increase of 3.0%. The West region had a modest gain of 0.4%, while the South had the only decline of 0.7%.
  • The U.S. pending home sales index level for the month of April was 74.8.
  • April’s contract signings bring the pending index below the 100-level mark for the 49th consecutive month.
  • The 100-level measurement is based on a 2001 benchmark and is consistent with existing-home sales above the 5 million mark.
Line graph showing month-over-month changes in pending home sales: Northeast +6.6%, Midwest +3.0%, West +0.4%, South -0.7%; national index at 74.8, below 100 for 49 straight months.