United States Pending Home Sales MoM

Pending home sales in the United States increased 2% month-over-month in February 2025, the first increase in three months, and the biggest since September last year, beating forecasts of 1.5%. Sales jumped 6.2% in the South and in the Midwest, sales inched up 0.7%. On the other hand, sales fell 0.9% in the Northeast and were down 3% in the West. "Despite the modest monthly increase, contract signings remain well below normal historical levels. A meaningful decline in mortgage rates would help both demand and supply – demand by boosting affordability, and supply by lessening the power of the mortgage rate lock-in effect", NAR Chief Economist Lawrence Yun said.