US Pending Home Sales Fall in January

Posted on February 19, 2026

On Thursday, the National Association of Realtors (NAR) reported that its Pending Home Sales Index (PHSI)—based on signed contracts for existing single-family homes, condominiums, and co-ops—fell 0.8% in January. Year-over-year, pending sales were down 0.4%.

An index of 100 corresponds to the level of contract activity in 2001.

The regional breakdown is as follows:

  • The Northeast PHSI fell 5.7% and 3.3% year-over-year.
  • The Midwest index rose 5.0% but declined 3.3% year-over-year.
  • The South PHSI fell 4.5% but was up 4.0% year-over-year.
  • The West index rose 4.3% and 5.1% year-over-year.
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