Full Breakdown
Pending Home Sales Surge in November 2025
1/3/2026, 9:14:25 PM
Overview of Pending Home Sales Growth
Pending home sales in the United States experienced a notable increase in November 2025, rising by 3.3% from October and marking a 2.6% increase year-over-year. This surge represents the highest level of contract signings since early 2023, according to the National Association of Realtors (NAR). The uptick in buyer activity is attributed to improved affordability driven by lower mortgage rates and wage growth outpacing home price increases. NAR Chief Economist Lawrence Yun stated, “Homebuyer momentum is building,” highlighting the role of expanded inventory in providing buyers with more options.
Regional Performance
The growth in pending sales was widespread across the country. The West saw the most significant monthly increase at 9.2%, followed by the South at 2.4%, the Northeast at 1.8%, and the Midwest at 1.3%. Year-over-year, the South led with a 3.3% increase in pending sales, while the West, Midwest, and Northeast recorded increases of 2.4%, 2.2%, and 1.8%, respectively. This regional data suggests that buyers are finding the housing market more manageable, particularly in areas where prices are stabilizing.
Economic Context and Future Outlook
Despite the positive trends in pending sales, economic uncertainty looms. Many consumers report a gloomy economic outlook due to rising living costs and the recent government shutdown, which lasted from October 1 to November 12. Lisa Sturtevant, chief economist at Bright MLS, cautioned that while November's increase is promising, the housing market may end 2025 at levels similar to the previous year. She noted that increasing economic uncertainty could continue to deter some buyers and sellers.
The NAR's Realtors Confidence Index indicated a slight rise in optimism among members, with 22% expecting increased buyer traffic in the next three months, up from 17% in October. However, this figure is down from 24% a year ago. Similarly, 18% anticipate an increase in seller activity, reflecting a modest improvement from 16% last month but a decrease from 22% in November 2024.
Conflicting Reports & Gaps
While the NAR reported a significant increase in pending home sales, some experts remain cautious about the sustainability of this growth. Predictions for the home resale market in 2026 vary widely, with estimates ranging from 1.7% to 14% sales growth, indicating a lack of consensus among economists regarding future market conditions.
Verbatim Quotes
- “Homebuyer momentum is building. The data show the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023,” — Lawrence Yun, Chief Economist, NAR
- “Despite the apparent uptick in pending sales activity in November, it is likely that the housing market will end 2025 with sales about at last year’s levels,” — Lisa Sturtevant, Chief Economist, Bright MLS
In summary, November 2025 marked a significant rebound in pending home sales across the United States, driven by improved affordability and increased inventory. However, economic uncertainties and varied predictions for the future suggest that the housing market may face challenges ahead.
