+0.6%

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Pending home sales rose 0.6% in August 2024, with the Midwest, South, and West regions of the U.S. posting monthly gains in transactions while the Northeast recorded a loss. Year-over-year, the registered growth, but the Northeast, Midwest, and South declined.

According to NAR Chief Economist Lawrence Yun, “A slight upward turn reflects a modest improvement in housing affordability, primarily because mortgage rates descended to 6.5% in August. However, contract signings remain near cyclical lows even as home prices keep marching to new record highs.”

Read the full news release.

Next release: Pending Home Sales for September 2024 will be released on Wednesday, October 30, 2024 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.

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Pending Home Sales for September 2024 will be released on Wednesday, October 30, 2024, 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