Pending home sales in the US surged 51.7 percent year-on-year in April of 2021, the biggest increase ever amid a low base effect from last year when sales sank at a record pace because of the pandemic. All four US regions recorded year-over-year increases. On a monthly basis however, pending home sales dropped 4.4 percent, compared to forecasts of a 0.8 percent rise, with only the Midwest witnessing month-over-month gains. "Contract signings are approaching pre-pandemic levels after the big surge due to the lack of sufficient supply of affordable homes," said Lawrence Yun, NAR's chief economist. "The upper-end market is still moving sharply as inventory is more plentiful there". Yun anticipates housing supply to improve as a whole as soon as autumn. He points to an increase in the comfortability of those listing, as well as a rise in sellers after the conclusion of the eviction moratorium or as they exit forbearance. source: National Association of Realtors
Pending Home Sales in the United States averaged 1.48 percent from 2002 until 2021, reaching an all time high of 51.70 percent in April of 2021 and a record low of -33.60 percent in April of 2020. This page provides the latest reported value for - United States Pending Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Pending Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
Pending Home Sales in the United States is expected to be 3.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Pending Home Sales in the United States to stand at 1.70 in 12 months time. In the long-term, the United States Pending Home Sales is projected to trend around 1.70 percent in 2022, according to our econometric models.