Pending-home sales improved slightly in February. According to recent data from the National Association of Realtors, pending-home sales increased by 2% in February. However, on a year-over-year basis, pending transactions declined by 3.6%. Year-over-year, pending-home sales fell in every region across the U.S. However, the Northeast and West saw month-over-month losses in transactions during February, while the Midwest and South reported month-over-month growth in pending transactions.
NAR forecasts mortgage rates will average 6.4% in 2025 and 6.1% in 2026. The association expects existing-home sales will rise by 6% in 2025 and accelerate another 11% in 2026. The new-home sales market has plentiful inventory and, therefore, NAR anticipates it will rise by 10% in 2025 and another 5% in 2026. It predicts that the national median home price will increase by 3% in 2025 and 4% in 2026.Read more
