Pending Home Sales Rose 1.5% in March

Washington, DC, April 21, 2026-Pending home sales in March increased by 1.5% from the prior month and declined 1.1% year over year, according to the National Association of Realtors Pending Home Sales report. 

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

“Contract signings rose in March despite higher mortgage rates, pointing to pent-up housing demand,” said NAR chief economist Dr. Lawrence Yun. “A greater supply of inventory will help translate that demand into more home sales.”

“Demand sensitivity to mortgage rates is greatest among first-time buyers, particularly younger buyers,” Yun said. “As a result, boosting supply and new-home construction should focus on smaller, more affordable homes.”

“A good number of markets in the South experienced price cuts over the past year but recorded the strongest job growth,” Yun added. “That combination should lead to stronger housing market activity in the South this year.”