NAR Pending Home Sales Report Shows 1.9% Increase in October

WASHINGTON (November 25, 2025) – Pending home sales in October increased by 1.9% from the prior month and fell 0.4% year over year, according to the National Association of REALTORS® Pending Home Sales Report. The report provides the real estate ecosystem, including agents and homebuyers and sellers, with data on the level of home sales under contract.

Month-over-month pending home sales rose in the Northeast, Midwest and South, and declined in the West. Year-over-year pending home sales increased in the Midwest and South, and decreased in the Northeast and West.

October's REALTORS® Confidence Index survey shows that 17% of NAR members expect an increase in buyer traffic over the next three months, down from 20% September and 19% one year ago. Meanwhile, 16% expect an increase in seller traffic, down from 19% last month and 19% in October 2024.

"The Midwest shined above other regions due to better affordability, while contract signings retreated in the more expensive West region," said NAR Chief Economist Lawrence Yun. "Days on the market typically lengthen from November through February, providing better negotiating power to buyers during the holiday season."

"Job gains in September, following the data blackout, are reassuring and suggest the economy is not slipping into a recession," Yun added. "This may boost confidence in future homebuying."

October 2025 National Pending Home Sales

• 1.9% increase month over month
• 0.4% decline year over year

October 2025 Regional Pending Home Sales

Northeast

• 2.3% increase month over month
• 1.0% decrease year over year

Midwest

• 5.3% increase month over month
• 0.9% increase year over year

South

• 1.4% increase month over month
• 2.0% increase year over year

West

• 1.5% decrease month over month
• 7.0% decrease year over year

The percent of change in pending home sales is based on the Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on home-contract signings. An index of 100 is equal to the level of contract activity in 2001.

About the National Association of REALTORS®

The National Association of REALTORS® is involved in all aspects of residential and commercial real estate. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes – from written buyer agreements to negotiating compensation – visit facts.realtor.

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*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales. Variations in the length of the process from pending contract to closed sale can be caused by issues such as buyer difficulties with obtaining mortgage financing, home inspection problems, or appraisal issues.

The index is based on a sample that covers about 40% of multiple listing service data each month. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

NOTE: Existing-Home Sales for November will be reported on December 19. The next Pending Home Sales Index will be released on December 29. All release times are 10 a.m. Eastern. View the NAR Statistical News Release Schedule.