Contracts to buy previously owned homes in the US jumped surged 24.2 percent over a year earlier in August of 2020, following a 15.5 percent rise in July. On a monthly basis, pending home sales went up 8.8 percent, beating forecasts of a 3.4 percent gain. Each of the four major regions saw gains in both month-over-month and year-over-year pending home sales transactions. “Tremendously low mortgage rates – below 3% – have again helped pending home sales climb in August," said Lawrence Yun, NAR’s chief economist. "Additionally, the Fed intends to hold short-term fed funds rates near 0% for the foreseeable future, which should in the absence of inflationary pressure keep mortgage rates low, and that will undoubtably aid homebuyers continuing to enter the marketplace."

Pending Home Sales in the United States averaged 0.79 percent from 2002 until 2020, reaching an all time high of 30.90 percent in October of 2009 and a record low of -33.80 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 October of 2020.

Pending Home Sales in the United States is expected to be 7.00 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 3.80 in 12 months time. In the long-term, the United States Pending Home Sales is projected to trend around 1.70 percent in 2021, according to our econometric models.

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United States Pending Home Sales

Actual Previous Highest Lowest Dates Unit Frequency
24.20 15.50 30.90 -33.80 2002 - 2020 percent Monthly
Volume Index, SA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-29 02:00 PM May -5.1% -33.8% -16.2%
2020-07-29 02:00 PM Jun 6.3% -5.1% -1%
2020-08-27 02:00 PM Jul 15.5% 5.6% 4%
2020-09-30 02:00 PM Aug 24.2% 15.5% 10%
2020-10-29 02:00 PM Sep 24.2% 17%
2020-11-30 03:00 PM Oct
2020-12-30 03:00 PM Nov


News Stream
US Pending Home Sales Surge by Double Digits for 2nd Month
Contracts to buy previously owned homes in the US jumped surged 24.2 percent over a year earlier in August of 2020, following a 15.5 percent rise in July. On a monthly basis, pending home sales went up 8.8 percent, beating forecasts of a 3.4 percent gain. Each of the four major regions saw gains in both month-over-month and year-over-year pending home sales transactions. “Tremendously low mortgage rates – below 3% – have again helped pending home sales climb in August," said Lawrence Yun, NAR’s chief economist. "Additionally, the Fed intends to hold short-term fed funds rates near 0% for the foreseeable future, which should in the absence of inflationary pressure keep mortgage rates low, and that will undoubtably aid homebuyers continuing to enter the marketplace."
2020-09-30
US Pending Home Sales Continue to Rise
Contracts to buy previously owned homes in the US jumped 15.5 percent over a year earlier in July of 2020, following a downwardly revised 5.3 percent rise in the previous month. It is the biggest gain since April of 2012 as the housing market is recovering from the coronavirus crisis. On a monthly basis, pending home sales went up 5.9 percent, beating forecasts of a 3 percent gain. Each of the four major regions saw gains in both month-over-month and year-over-year pending home sales transactions. “We are witnessing a true V-shaped sales recovery as homebuyers continue their strong return to the housing market,” said Lawrence Yun, NAR’s chief economist.
2020-08-27
US Pending Home Sales Rise for 1st Time in 4 Months
Contracts to buy previously owned homes in the US rose 6.3 percent over a year earlier in June of 2020, following a 5.1 percent fall in the previous month. It is the first gain in four months in a sign that the housing market may be recovering from the coronavirus crisis. Sales increased in the South (10.3 percent), the Midwest (5.1 percent) and the West (4.7 percent) but fell in the Northeast (-0.9 percent). On a monthly basis, pending home sales jumped 16.6 percent, beating forecasts of a 15 percent gain. "Consumers are taking advantage of record-low mortgage rates resulting from the Federal Reserve’s maximum liquidity monetary policy", Lawrence Yun, NAR’s chief economist said. NAR has raised its forecast for 2020, with existing-home sales expected to decline by only 3 percent, with sales ramping up to 5.6 million by the fourth quarter. New home sales are projected to rise by 3 percent.
2020-07-29
US Pending Home Sales Continue to Fall
Contracts to buy previously owned homes in the US fell 5.1 percent over a year earlier in May of 2020, following a record 33.8 percent plunge in the previous month due to the coronavirus crisis. Sales continued to fall in the Northeast (-33.2 percent), the West (-2.5 percent) and the Midwest (-1.4 percent) but rose in the South (1.9 percent). On a monthly basis, pending home sales surged 44.3 percent, the biggest rise ever and following a record 21.8 percent fall in April. Figures beat market forecasts of an 18.9% rise as every major region recorded an increase in month-over-month pending home sales transactions. "The outlook has significantly improved, as new home sales are expected to be higher this year than last, and annual existing-home sales are now projected to be down by less than 10 percent - even after missing the spring buying season due to the pandemic lockdown,” Lawrence Yun, NAR’s chief economist said.
2020-06-29

United States Pending Home Sales
Pending Home Sales Index is based on sales of existing homes where the contract has been signed but the transaction has not been closed. The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined.