Catenaa, Sunday, January 04, 2026-Pending home sales rose in November, offering a modest late-year lift to a housing market that remained subdued through most of 2025, according to industry data.
Contract signings increased 3.3% from October and were up 2.6% from November 2024, the National Association of Realtors reported. Gains were recorded in every region, with the South posting the strongest year-over-year increase at 3.3%.
Economists said easing mortgage rates, gradual price cooling, and higher inventory levels appear to be drawing some buyers back, particularly in regions where affordability pressures have eased the most. Even so, the broader market continues to move slowly, reflecting cautious behavior from both buyers and sellers.
Despite the rise in pending sales, existing home sales for the full year are unlikely to show a meaningful rebound. Total sales in 2024 fell to 4.06 million, the lowest level in three decades, and November typically marks one of the slowest periods of the year for housing activity.
Analysts said the recent uptick may help establish a base heading into 2026, but expectations remain muted. Most forecasts point to a transition year rather than a rapid recovery, with activity improving only gradually.
Affordability remains a major constraint. While recent data show housing affordability at its strongest level since mid-2022, conditions remain far below pre-pandemic norms. Rising wages could help offset borrowing costs next year, but supply will play a decisive role.
Economists said price trends in 2026 will depend on whether demand strengthens faster than new listings and construction add homes to the market.
