{"id":1229,"date":"2025-06-01T19:59:05","date_gmt":"2025-06-01T19:59:05","guid":{"rendered":"https:\/\/finzexpert.com\/blog\/pending-home-sales-slip-but-the-broader-story-remains-the-same\/"},"modified":"2025-06-01T19:59:05","modified_gmt":"2025-06-01T19:59:05","slug":"pending-home-sales-slip-but-the-broader-story-remains-the-same","status":"publish","type":"post","link":"https:\/\/finzexpert.com\/blog\/pending-home-sales-slip-but-the-broader-story-remains-the-same\/","title":{"rendered":"Pending Home Sales Slip, But the Broader Story Remains the Same"},"content":{"rendered":"\n
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The National Association of Realtors’ Pending Home Sales Index (PHSI)\u2014which tracks contract signings on existing homes\u2014has spent more than two years stuck in a rut, held back by affordability constraints and the lingering impact of elevated mortgage rates. April’s update didn\u2019t do the market any favors, but it also didn\u2019t tell us anything particularly new.<\/p>\n

Pending sales dropped by 6.3%<\/strong> in April, marking the sharpest monthly decline since mid-2022<\/strong>. The index fell to 71.3<\/strong>, its third-lowest level on record<\/strong>, and is now 2.5% lower than a year ago<\/strong>.<\/p>\n

That sounds like a big move\u2014and it is, on paper\u2014but zooming out, the broader trend remains one of stagnation. We\u2019re still very much bouncing around at the bottom of a severely depressed range that\u2019s held steady for the better part of a year.<\/p>\n

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\u201cWith mortgage rates still hovering around 7%, home sales are stagnant as more homebuyers remain on the sidelines,\u201d said NAR Chief Economist Lawrence Yun. \u201cThere are job additions and income gains, but consumers are hesitant to move without meaningful rate relief. Increasing inventory and lowering mortgage rates will get more buyers and sellers back into the market.\u201d<\/p>\n

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Here\u2019s how the month-over-month change broke down by region:<\/p>\n