Pending Home Sales Up 3.8% in May

Washington, DC, June 17, 2026—Pending home sales in May increased by 3.8% month-over-month and 4.8% year-over-year, according to the National Association of Realtors Pending Home Sales report. 

Month-over-month and year-over-year pending home sales rose in the Northeast, Midwest, South and West.

“A late spring buyer rush—even with mortgage rates not budging—is an indication of pent-up housing demand and consumers’ acceptance of above-6% mortgage rates as the new normal,” said NAR chief economist Dr. Lawrence Yun. “The inventory-constrained Northeast region, which has seen faster home price growth but slower home sales for several months, is now showing more buyer contract signings. More supply is needed to help moderate home price growth.”

“Going forward, falling oil prices will help lower mortgage rates,” Yun said. “But declines will be modest given sizable borrowing by the federal government and strong AI investment spending by tech companies.”