U.S. Pending Homes Sales Increased Month-Over-Month & Year-Over-Year in May 2025
NAR Pending Home Sales Report Reveals 1.8% Increase in May
The National Association of Realtors® (NAR) reported on Thursday their Pending Homes Sales Index (PHSI) for May 2025. The PHSI is based on signed real estate contracts, not actual closings, for existing single-family homes, condominiums, and co-ops, increased 1.8% month-over-month in May. Year-over-year pending homes sales were up 1.1%. An index of 100 is equal to the level of contract activity in 2001.
The NAR reports that month-over-month in May, all four U.S. regions experienced month-over-month increases in transactions, with the West particularly active. Year-over-year, contract signings rose in the Midwest and South but declined in the Northeast and West.
The Northeast PHSI increased 2.1% month-over-month but decreased 0.5% from May 2024. The Midwest index increased 0.3% in May and was up 2.6% from the previous year. The South PHSI increased 1.0% and was up 2.0% from May 2024. The West index increased 6.0% month-over-month but was down 1.2% from May 2024.
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