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Pending Home Sales Surge 4% as Mortgage Rates Drop

9/29/2025

34 3 Full Breakdown

Summary

Story summary

Pending U.S. home sales rose 4% in August from July, and 3.8% higher year over year, per National Association of Realtors (NAR).
Midwest up 8.7%, West up 5%, South up 3.1%; Northeast declined 1.1%.
NAR Chief Economist Lawrence Yun cited lower mortgage rates near an 11-month low.
Realtors Confidence Index shows 19% expect higher buyer traffic, up from 16%.

History

Historical Context

The U.S. housing market collapsed in 2008, with home values plummeting by 30% and mortgage rates exceeding 6%. This crisis stemmed from a housing bubble fueled by risky lending practices and speculation. Today, a 4% rise in pending home sales in August 2023, driven by lower mortgage rates, suggests a recovery and renewed confidence in the housing market's stability.

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Story summary

Pending U.S. home sales rose 4% in August from July, and 3.8% higher year over year, per National Association of Realtors (NAR).
Midwest up 8.7%, West up 5%, South up 3.1%; Northeast declined 1.1%.
NAR Chief Economist Lawrence Yun cited lower mortgage rates near an 11-month low.
Realtors Confidence Index shows 19% expect higher buyer traffic, up from 16%.

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