Pending home sales tick up in March despite higher rates

"Contract signings rose in March despite higher mortgage rates, indicating pent-up housing demand. A greater supply of inventory will help translate that demand into more home sales."

"Pending home sales were up on a monthly basis in the Northeast and South, while dropping in the Midwest and West. Year-over-year, pending home sales were down in the Northeast, Midwest, and West, but up in the South."

"Kansas City, MO-KS, reported the largest annual increase in pending home sales, jumping 14.9% compared to March of 2025. Other metro areas also posted significant increases."

"Due to regional differences, agents and consumers should not assume national headlines apply to their neighborhood. Texas looks very different from Massachusetts right now."

In March, contract signings rose, reflecting pent-up housing demand despite elevated mortgage rates. The supply of inventory is expected to facilitate more home sales. Data shows new pending home sales increased from 69,183 in March 2025 to 70,676 in March 2026. By mid-April, pending inventory reached 392,173, a 0.2% increase year-over-year. Regionally, the Northeast and South saw monthly increases, while the Midwest and West experienced declines. Kansas City reported the largest annual increase in pending home sales at 14.9%. Regional market differences necessitate localized understanding of housing trends.

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