NAR Pending Home Sales Report Shows 1.5% Increase in March

NAR Pending Home Sales Report Shows 1.5% Increase in March

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April 21, 2026

Media Contact: Media Relations

Month Over Month

• 1.5% increase in pending home sales
• Gains in the Northeast and South; declines in the Midwest and West

Year Over Year

• 1.1% decrease in pending home sales
• Gains in the South; declines in the Northeast, Midwest and West WASHINGTON (April 21, 2026) – Pending home sales in March increased by 1.5% from the prior month and declined 1.1% year over year, according to the National Association of REALTORS® Pending Home Sales report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales under contract.

Month-over-month pending home sales rose in the Northeast and South, and declined in the Midwest and West. Year-over-year pending home sales rose in the South, and declined in the Northeast, Midwest and West.

“Contract signings rose in March despite higher mortgage rates, pointing to pent-up housing demand,” said NAR Chief Economist Dr. Lawrence Yun. “A greater supply of inventory will help translate that demand into more home sales.”

“Demand sensitivity to mortgage rates is greatest among first-time buyers, particularly younger buyers,” Yun said. “As a result, boosting supply and new-home construction should focus on smaller, more affordable homes.”

“A good number of markets in the South experienced price cuts over the past year but recorded the strongest job growth,” Yun added. “That combination should lead to stronger housing market activity in the South this year.”

March 2026 National Pending Home Sales

• 1.5% increase month over month
• 1.1% decrease year over year

March 2026 Regional Pending Home Sales

Northeast

• 4.4% increase month over month
• 6.5% decrease year over year

Midwest

• 1.3% decrease month over month
• 3.1% decrease year over year

South

• 3.9% increase month over month
• 2.3% increase year over year

West

• 2.6% decrease month over month
• 1.7% decrease year over year At the local level, several markets posted notable year-over-year gains in pending home sales. Among the 50 largest metro areas, the following 10 markets posted the biggest annual increases in pending home sales, according to data from Realtor.com® Economics:

1. Kansas City, MO-KS (+14.9%)
2. Milwaukee–Waukesha, WI (+13.5%)
3. Austin–Round Rock–San Marcos, TX (+12.8%)
4. Phoenix–Mesa–Chandler, AZ (+12.1%)
5. Raleigh–Cary, NC (+10.0%)
6. Portland–Vancouver–Hillsboro, OR-WA (+9.7%)
7. Richmond, VA (+8.5%)
8. Virginia Beach–Chesapeake–Norfolk, VA-NC (+8.5%)
9. Dallas–Fort Worth–Arlington, TX (+8.1%)
10. Washington–Arlington–Alexandria, DC-VA-MD-WV (+8.0%)

About the National Association of REALTORS®

The National Association of REALTORS® is involved in all aspects of residential and commercial real estate. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes – from written buyer agreements to negotiating compensation – visit facts.realtor.

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*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales. Variations in the length of the process from pending contract to closed sale can be caused by issues such as buyer difficulties with obtaining mortgage financing, home inspection problems, or appraisal issues.

The index is based on a sample that covers about 40% of multiple listing service data each month. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

NOTE: Existing-Home Sales for April will be reported on May 11. The next Pending Home Sales Index will be released on May 19. All release times are 10 a.m. Eastern. View the NAR Statistical News Release Schedule.

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