U.S. Pending Home Sales Post November Gain

WASHINGTON – Pending home sales in November jumped by 3.3% from the prior month and 2.6% 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 and year-over-year pending home sales rose in the Northeast, Midwest, South and West.

November's Realtors® Confidence Index survey shows that 22% of NAR members expect an increase in buyer traffic over the next three months, up from 17% in October and down from 24% one year ago. Meanwhile, 18% expect an increase in seller traffic, up from 16% last month and down from 22% in November 2024.

"Homebuyer momentum is building. The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023," said NAR Chief Economist Lawrence Yun. "Improving housing affordability—driven by lower mortgage rates and wage growth rising faster than home prices—is helping buyers test the market. More inventory choices compared to last year are also attracting more buyers to the market."

November 2025 national pending home sales

• 3.3% increase month over month
• 2.6% increase year over year

November 2025 regional pending home sales

Northeast

• 1.8% increase month over month
• 1.8% increase year over year

Midwest

• 1.3% increase month over month
• 2.2% increase year over year

South

• 2.4% increase month over month
• 3.3% increase year over year

West

• 9.2% increase month over month
• 2.4% increase 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.

© 2026 National Association of Realtors® (NAR)