What did pending home sales look like in April 2026?
What did pending home sales look like in April 2026?
Buyers signed contracts to buy more homes across the nation compared to March, as well as compared to the same time a year earlier, in a trend that could continue as mortgage interest rates decline, a report released today by the National Association of REALTORS® (NAR) said.
April saw a 1.4% month-over-month increase in pending home sales over all regions tracked by the NAR, while year-over-year data saw an overall 3.2% increase in those same regions.
“Buyers are coming out with cautious optimism despite increasing economic uncertainty and a slight rise in mortgage rates,” NAR Chief Economist Lawrence Yun said.
Pending home sales are indicators of the direction of the housing market in general based on purchase contracts signed for homes for sale.
Which regions showed changes in pending home sales?
Three of the four regions the NAR tracks in the U.S. showed increases in pending sales in April from the previous month, with three regions also showing increases in pending home sales compared to the same time last year.
- The Northeast experienced a 6.6% increase in pending home sales from last month but a 0.6% decrease from last year.
- Pending sales in the Midwest rose 3% from March and increased 2.7% from the same time last year.
- The West saw an increase in pending home sales from the previous month at 0.4% and a 3.8% increase from a year ago.
- Signed contracts in the South dipped 0.7% from the previous month but increased 4.7% from March 2025.
“Demand will easily be even higher once mortgage rates retreat to the levels they were at earlier this year,” Yun continued.
While mortgage rates earlier this year hit a three-year low, they have slowly crept up some since then with changes in the overall economy. However, seasoned homebuyers know that you purchase the home, not the mortgage rate, so finding the right home should be the most important factor. Homeowners can always change their mortgage rate with a refinance should rates drop.
Did mortgage rates show any change?
According to data from Freddie Mac, the 30-year fixed rate mortgage averaged 6.36% as of May 14*. That’s a drop from 6.37% one week ago and down considerably from 6.81% one year ago.
The cooler months of winter tend to see fewer potential buyers in the market, typically allowing those shopping at that time more negotiating power. While the warmer summer months tend to see a larger number of homes on the market, spring is the time that sees the best of both these buying seasons. Those looking for some negotiating power as well as an increasing number of homes to look at may consider joining the housing market as the spring buying season gets into full swing.
Are you ready to start the homebuying process? Start by applying for a mortgage pre-approval and begin your journey toward your dream home with Rate! A pre-approval shows sellers and real estate agents that you’re serious and gives you an idea of how much of a mortgage you’re likely to be approved for.
*National average rates from Freddie Mac as of May 14, 2026, are not advertised rates from Rate.
