W
ASHINGTON (August 28, 2025) - The National Association of REALTORS' Pending Home Sales report shows a modest decline in pending home sales for July, with a 0.4% decrease from the previous month and a 0.7% increase year-over-year.
Regional data reveals that pending sales declined in the Northeast and Midwest on a monthly basis, remained flat in the South, and rose in the West. Year-over-year, sales decreased in the Northeast and West but increased in the Midwest and South.
According to the REALTORS' Confidence Index survey, 16% of NAR members expect an increase in buyer traffic over the next three months, unchanged from last year. Meanwhile, 21% anticipate an increase in seller traffic, up from 17% in July 2024.
"Buyers are taking their time due to concerns about affordability and timing," said NAR Chief Economist Lawrence Yun. "Rising mortgage applications indicate more serious buyers, but many have not yet committed to a pending contract."
The Federal Reserve's potential interest rate policy could expand the pool of eligible homebuyers in upcoming months.
July 2025 National Pending Home Sales:
- 0.4% decrease month-over-month
- 0.7% increase year-over-year
Regional data for July 2025:
- Northeast: 0.6% decrease month-over-month, 0.6% decrease year-over-year
- Midwest: 4.0% decrease month-over-month, 1.3% increase year-over-year
- South: 0.1% decrease month-over-month, 1.8% increase year-over-year
- West: 3.7% increase month-over-month, 1.9% decrease year-over-year
The Pending Home Sales Index (PHSI) is a forward-looking indicator of home sales based on contract signings. An index of 100 represents 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, with members adhering to its strict Code of Ethics.
For consumer guides on navigating homebuying and selling transactions, visit facts.realtor.
