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In November 2025, month-over-month and year-over-year pending home sales rose in the Northeast, Midwest, South, and West.

According to NAR Chief Economist Lawrence Yun, "Homebuyer momentum is building. The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023. Improving housing affordability–driven by lower mortgage rates and wage growth rising faster than home prices–is helping buyers test the market. More inventory choices compared to last year are also attracting more buyers to the market."

Read the full news release.

Next release: Pending Home Sales for December 2025 will be released on Wednesday, January 21, 2026 at 10 a.m. Eastern.

The Pending Home Sales Index (PHS), 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. Because a home goes under contract a month or two before it is sold, the Pending Home Sales Index generally leads Existing-Home Sales by a month or two.

Pending Home Sales data are provided by NAR solely for use as a reference. No part of the data may be reproduced, stored in a retrieval system, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without NAR's prior written consent for those who are not members of NAR.

Members of the media who need copies of previous months' pending home sales news releases can contact the NAR media communications team at 202-383-7515.

Data

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Pending Home Sales for December 2025 will be released on Wednesday, January 21, 2026, at 10 a.m. Eastern.

The NAR Public Affairs Office issues a news release on or near the 20th of each month with the latest existing-home sales figures. The releases include analysis and quotes by NAR's Chief Economist Lawrence Yun regarding the sales volume, prices, inventory and interest rates.

NAR Research Data Release Dates