Pending sales offer early look at summer market

Florida’s housing market showed signs of continued buyer activity in May, with new pending sales rising in both major property categories, according to the latest Florida Realtors® data.

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May 2026: Sales Up, Prices Climb

Florida’s housing market showed continued sales growth, but what does that mean for buyers, sellers and agents? Watch to learn the key trends shaping the market—from rising home sales and price changes to the impact of mortgage rates and inflation. NEXT REPORT: July 17  

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New pending sales of single-family homes were up 4.8% year over year, while new pending sales of condo-townhouse properties rose 9%. The gains offer a forward-looking look at where sales could be headed as the summer market gets underway.

Florida Realtors Chief Economist Dr. Brad O’Connor said the single-family increase is encouraging, though not enough to guarantee that year-over-year closed-sales growth will continue into June.

“New pending sales of single-family homes were up by 4.8%, which isn’t quite enough to ensure that the closed sales streak will continue into June, but that’s still a distinct possibility,” O’Connor said.

The condo-townhouse market showed a stronger pending-sales gain. O’Connor said the 9% increase in that category means its recent streak of higher year-over-year closed sales is “almost assuredly safe going into next month.”

The numbers give Realtors® a useful way to talk with buyers and sellers about a market that is still moving, but not evenly across every property type. Pending sales can help show where demand is building, while also giving sellers a more current view of buyer activity than closed sales alone.

Mortgage rates remain a key part of the summer outlook. O’Connor said the direction of sales will continue to depend heavily on where rates go from here and how soon they move.

"Lower rates in the coming months would go a long way toward ensuring continued growth in sales figures. If the latest peace deal in the Persian Gulf holds, energy prices will come down, which will open the door for rates to move lower," he said. "We shouldn’t expect rates to fall as quickly as they increased earlier this year, but they will be heading back down if inflation eases as expected with lower energy prices."

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