Pending Home Sales Increase 3.3% in November

Pending home sales jumped by 3.3% in November, the National Association of Realtors reported.

The association’s Pending Home Sales Report also noted November pending home sales are up 2.6% on a year-over-year basis.

Pending home sales rose in the Northeast, Midwest, South and West regions on both a month-over-month and year-over-year basis.

The report’s Confidence Index survey found that 22% of realtors surveyed expect an increase in buyer traffic over the next three months, up from 17% in October and down from 24% one year ago. Meanwhile, 18% expect an increase in seller traffic, up from 16% last month and down from 22% in November 2024.

NAR Chief Economist Lawrence Yun said homebuyer momentum is building. “The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years,” he said. “Improving housing affordability–driven by lower mortgage rates and wage growth rising faster than home prices–is helping buyers test the market. More inventory choices compared to last year are also attracting more buyers to the market.”

Sam Williamson, senior economist with First American, Santa Ana, Calif., agreed that the surge in pending home sales increases housing market optimism for the new year. “While still below September’s strong pace, the recent pickup suggests that the modest improvement in pending sales may extend into the winter, especially if affordability conditions continue to improve,” he said.

“As we look to 2026, we believe sales activity next year will continue to be shaped more by ‘life happens’ moments—job changes, marriages, births, and other personal milestones—than by falling mortgage rates,” Williamson added. “With affordability still stretched and inventory tight in many regions, the recent pullback in rates and cooling price growth have helped stabilize the landscape. These shifts offer a clearer path for buyers and sellers as 2026 approaches, setting the stage for a more constructive year ahead.”