{"id":1359,"date":"2025-08-06T14:57:52","date_gmt":"2025-08-06T14:57:52","guid":{"rendered":"https:\/\/finzexpert.com\/blog\/pending-home-sales-slip-again-underscoring-market-stagnation\/"},"modified":"2025-08-06T14:57:52","modified_gmt":"2025-08-06T14:57:52","slug":"pending-home-sales-slip-again-underscoring-market-stagnation","status":"publish","type":"post","link":"https:\/\/finzexpert.com\/blog\/pending-home-sales-slip-again-underscoring-market-stagnation\/","title":{"rendered":"Pending Home Sales Slip Again, Underscoring Market Stagnation"},"content":{"rendered":"\n
\n

The National Association of Realtors\u2019 Pending Home Sales Index (PHSI)\u2014which tracks contract signings on existing homes\u2014has remained rangebound for more than two years, constrained by affordability pressures and elevated mortgage rates. This week\u2019s release showed a decline after last month\u2019s modest gain, reflecting persistent market softening.<\/p>\n

Pending home sales fell by 0.8%<\/strong> in June, following May\u2019s 1.8% rise. The index is now 2.8% lower than a year ago<\/strong>, but remains far below pre\u20112022 levels.<\/p>\n

Zooming out, contract activity remains stuck in a narrow band. The index hasn\u2019t topped 80 since the summer of 2022, indicating a sluggish, rate\u2011constrained housing market.<\/p>\n

<\/p>\n

\u201cThe data shows a continuation of small declines in contract signings despite inventory in the market increasing,\u201d said NAR Chief Economist Lawrence Yun. The drop in June extends weakness even as more homes come online.<\/p>\n

Regional Breakdown (Month\u2011Over\u2011Month)<\/h3>\n
    <\/p>\n
  • Northeast:<\/strong> +2.1%<\/li>\n

    <\/p>\n

  • Midwest:<\/strong> \u22120.8%<\/li>\n

    <\/p>\n

  • South:<\/strong> \u22120.7%<\/li>\n

    <\/p>\n

  • West:<\/strong> \u22123.9%<\/li>\n

    \n<\/ul>\n

    Regional YoY Change<\/h3>\n
      <\/p>\n
    • Northeast:<\/strong> 0.0% (flat)<\/li>\n

      <\/p>\n

    • Midwest:<\/strong> \u22120.9%<\/li>\n

      <\/p>\n

    • South:<\/strong> \u22122.9%<\/li>\n

      <\/p>\n

    • West:<\/strong> \u22127.3%<\/li>\n

      \n<\/ul>\n

      All regions except the Northeast posted declines month-over-month. Year-over-year, only the Northeast remains unchanged. The West saw the steepest annual drop at \u22127.3%.<\/p>\n\n

      Key Takeaways<\/h3>\n

      The reversal from May\u2019s uptick underscores that pending contract activity remains weak. With a broad-based monthly decline and national YoY down 2.8%, buyer engagement remains lethargic.<\/p>\n\n

      Bottom Line<\/h3>\n

      Pending home sales continue to drift sideways, with June marking a setback. Despite rising inventory, affordability challenges and near\u20117% mortgage rates are still discouraging signed contracts. Unless borrowing costs ease meaningfully, the pace of contract signings is likely to remain subdued through the summer.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

      The National Association of Realtors\u2019 Pending Home Sales Index (PHSI)\u2014which tracks contract signings on existing homes\u2014has remained rangebound for more than two years, constrained by affordability pressures and elevated mortgage rates. This week\u2019s release showed a decline after last month\u2019s modest gain, reflecting persistent market softening. Pending home sales fell by 0.8% in June, following […]<\/p>\n","protected":false},"author":1,"featured_media":1360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[259,326,308,309,992,1168,1167],"class_list":["post-1359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan","tag-home","tag-market","tag-pending","tag-sales","tag-slip","tag-stagnation","tag-underscoring"],"_links":{"self":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/1359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/comments?post=1359"}],"version-history":[{"count":0,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/1359\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media\/1360"}],"wp:attachment":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media?parent=1359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/categories?post=1359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/tags?post=1359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}