Pending home sales inched up just 0.3% nationwide this month, signaling a cautious but steady market shift. Even with contract signings now down about 5% compared to this time last year, we’re seeing buyers still stepping into the process—despite mortgage rates sitting near 7%, up from the mid-6% range we saw previously. It’s a reminder that while incomes are rising a bit faster than home prices, higher borrowing costs are balancing out that extra buying power.
Pending sales reflect the earliest signals of where our housing market is heading, since they’re based on signed contracts before closing. As we settle into the cooler months, fewer buyers typically means more room for negotiation—a window of opportunity for those looking to make a move. Warmer summer months, on the other hand, usually bring more homes to the market and a wider selection.
At The Brooks Group, finding purpose and building legacies through homeownership guides every step we take. Our deep-rooted market knowledge and commitment to personalized service are here to help you navigate these shifts with clarity and confidence.
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