Pending home sales in the US fell 0.5 percent year-on-year in February of 2021, following an upwardly revised 13.5 percent rise in January. It is the first decline since May as interest rates edged up and supply was near all-time lows. On a monthly basis, pending home sales shrank 10.6 percent, the second consecutive month of declines. "The demand for a home purchase is widespread, multiple offers are prevalent, and days-on-market are swift but contracts are not clicking due to record-low inventory. Only the upper-end market is experiencing more activity because of reasonable supply. Demand, interestingly, does not yet appear to be impacted by recent modest rises in mortgage rates", said Lawrence Yun, NAR's chief economist. source: National Association of Realtors
Pending Home Sales in the United States averaged 1.16 percent from 2002 until 2021, reaching an all time high of 30.90 percent in October of 2009 and a record low of -33.60 percent in April of 2020. This page provides the latest reported value for - United States Pending Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Pending Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.
Pending Home Sales in the United States is expected to be 15.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Pending Home Sales in the United States to stand at 1.70 in 12 months time. In the long-term, the United States Pending Home Sales is projected to trend around 1.70 percent in 2022, according to our econometric models.