Pending home sales showed positive growth in November 2025. They rose by 3.3% from October and 2.6% compared to last year, according to the National Association of REALTORS®.
This trend is encouraging across all regions: the Northeast, Midwest, South, and West all saw increases. Notably, the West experienced a significant jump of 9.2% month-over-month.
Lawrence Yun, NAR’s Chief Economist, noted, “Homebuyer momentum is building. We’re seeing the best performance of the year after seasonal adjustments, the strongest in nearly three years.” Factors like lower mortgage rates and rising wages are making homes more affordable for buyers. Plus, there are more options available now than last year, attracting even more interested buyers.
Highlights from November 2025:
Overall Home Sales:
- 3.3% increase from October
- 2.6% increase year-over-year
Regional Growth:
- Northeast: 1.8% increase (month-over-month and year-over-year)
- Midwest: 1.3% month-over-month, 2.2% year-over-year
- South: 2.4% increase (month-over-month), 3.3% (year-over-year)
- West: 9.2% month-over-month; 2.4% year-over-year
The Pending Home Sales Index (PHSI) measures these trends, reflecting the number of homes under contract but not yet sold. An index of 100 represents contract activity from 2001, the baseline year used for comparisons.
Expert Insights
Market analysts predict that this upward trend could continue into 2026. Housing affordability is a key topic. A recent survey by the Mortgage Bankers Association found that 65% of respondents believe housing prices will stabilize or decline in the next year, which could encourage more buyers to enter the market.
Social Media Buzz
Online, many homebuyers are expressing optimism. Hashtags like #HomeBuying2025 are trending, with users sharing stories about their home search experiences. This growing conversation highlights a belief that the market is shifting in favor of buyers.
Understanding the Index
The PHSI is a leading indicator of future sales. It looks at signed contracts, with sales typically closing one to two months later. However, factors like mortgage issues or inspections can delay closures, affecting the timeline. The index surveys about 40% of multiple listing services (MLS), providing valuable insights into the housing market.
For more information on these patterns and other real estate topics, you can explore resources from the National Association of REALTORS® here.
With this momentum, both buyers and sellers are watching closely as the market evolves. The upcoming reports in January will shed more light on the ongoing trends.
