NAR Reports 2% Increase in Pending Home Sales for February 2025
The National Association of Realtors is reporting that pending home sales rose 2% in in February, 2025. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 72 in February. Year-over-year, contract signings dropped in all four U.S. regions, with the Midwest undergoing the greatest reduction. In addition, the NAR says contract signings are below historic norms;
“Despite the modest monthly increase, contract signings remain well below normal historical levels…A meaningful decline in mortgage rates would help both demand and supply – demand by boosting affordability, and supply by lessening the power of the mortgage rate lock-in effect.” Said the NAR’s Chief Economist Lawrence Yun.
Click here to read the full report at the NAR.