What did pending home sales look like in November?

Signed contracts for home sales in November surged significantly compared to October, a report released today by the National Association of REALTORS® (NAR) said. Not only was there an increase compared to the previous month, but all regions noticed an increase year-over-year.

“Homebuyer momentum is building,” NAR Chief Economist Lawrence Yun said. “The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023.”

November saw a month-over-month increase of 3.3% in all regions tracked by the NAR, while year-over-year saw a 2.6% increase in those same regions.

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?

All four regions the NAR tracks in the U.S. showed increases in pending sales in November from the previous month, with all regions also showing increases in pending home sales compared to the same time last year.

Yun pointed to several factors driving the increase in pending sales for November.

“Improving housing affordability driven by lower mortgage rates and wage growth rising faster than home prices is helping buyers test the market,” Yun said. “More inventory choices compared to last year are also attracting more buyers to the market."

Did mortgage rates show any change?

According to data from Freddie Mac, the 30-year fixed rate mortgage averaged 6.18% as of Dec. 24*. That’s down from 6.21% one week ago and also down considerably from 6.85% one year ago.

The cooler months of fall and winter tend to see fewer potential buyers in the market, typically allowing more negotiating power to those shopping during this time. If you are looking for a deal, now may be the time to consider joining the housing market.

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 get approved for.

*National average rates from Freddie Mac as of Dec. 24, 2025, are not advertised rates from Rate.

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Refinancing your mortgage may increase costs over the term of your loan. Restrictions may apply, contact Rate for current rates and for more information.

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