Pending home sales rose 1.4% in April 2026 while existing-home sales climbed 3.2% in May, signaling sustained demand across most U.S. regions.
Pending home sales, a forward-looking indicator of existing-home activity, increased 1.4% in April 2026 according to the National Association of REALTORS®. The gain followed a mixed March and confirmed that signed contracts were translating into closed transactions by May, when existing-home sales rose 3.2%. Both metrics point to resilient demand even as mortgage rates remain elevated.
The April pending-home-sales increase was not uniform. The Midwest posted the largest monthly gain, followed by the South and West; the Northeast recorded a modest decline. Year-over-year, the Midwest and South continued to outperform 2025 levels, while the West showed the first positive comparison since late 2025.
Existing-home sales mirrored the same geographic pattern in May. The South led with a 4.1% monthly increase, the Midwest rose 3.8%, and the Northeast posted a 2.9% gain. Only the West remained flat month-over-month, although it still registered a 1.7% year-over-year improvement.
The 1.4% April rise in pending sales directly fed the 3.2% May jump in closings, illustrating the typical 4-to-6-week lag between contract signing and closing. NAR data indicate that 78% of April contracts reached settlement in May, slightly above the 2025 average of 74%.
Thirty-year fixed mortgage rates averaged 6.72% during the week ending June 13, 2026, per FRED data—down 11 basis points from the prior week but still 38 basis points above the January 2026 trough. The modest decline coincided with the strongest pending-sales reading since February, suggesting rate-sensitive buyers are stepping back into the market when financing costs ease even marginally.
Active listings rose 6.3% year-over-year in May, the sixth consecutive month of inventory growth. Median existing-home prices reached $403,800, up 3.1% from May 2025. Days on market lengthened to 29, two days longer than last year, indicating a gradual shift toward a more balanced market.
NAR’s latest outlook projects a 14% increase in existing-home sales for calendar year 2026, which would lift annual volume to roughly 4.35 million units—still below the 2021 peak but the strongest annual total since 2021. The forecast assumes mortgage rates will average between 6.4% and 6.8% for the remainder of the year.
| Month (2026) | Pending Home Sales Change | Existing-Home Sales Change | Source |
|---|---|---|---|
| March | -0.8% | +1.9% | NAR |
| April | +1.4% | +2.4% | NAR |
| May | — | +3.2% | NAR |
The combination of rising contract volume, expanding inventory, and a still-constrained supply of homes priced below $400,000 suggests buyers who secure financing at current rates are competing in a slightly less frenzied environment than 2024–2025. Sellers who price accurately are seeing offers within 10 days, while overpriced listings linger.
Readers evaluating specific payment scenarios can run live scenarios at HomeRates.ai to compare rate-and-price combinations across multiple loan products.
Pending home sales data through April 2026 confirm that buyer demand remains intact; the 1.4% monthly gain translated into a 3.2% rise in closings by May. With inventory expanding and mortgage rates showing modest relief, the second half of 2026 is likely to deliver the strongest annual sales total in five years, provided rates stay below 7%.
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