{"id":887,"date":"2019-05-01T17:29:00","date_gmt":"2019-05-01T17:29:00","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2019\/05\/01\/nar-pending-home-sales-climbed-3-8-in-march\/"},"modified":"2025-03-13T02:11:18","modified_gmt":"2025-03-13T02:11:18","slug":"nar-pending-home-sales-climbed-3-8-in-march","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2019\/05\/01\/nar-pending-home-sales-climbed-3-8-in-march\/","title":{"rendered":"NAR: Pending Home Sales Climbed 3.8% in March"},"content":{"rendered":"<h2>NAR: Pending Home Sales Climbed 3.8% in March<\/h2>\n<p>Pending home sales rose in March, reversing course from a month prior, according to the <a href=\"national-association-of-realtors\/\">National Association of Realtors<sup>\u00ae<\/sup><\/a>. Three of the four major regions saw growth last month, as the Northeast reported a minor slip in contract activity.<\/p>\n<p><!--more--><\/p>\n<p>The&nbsp;<b>Pending Home Sales Index<\/b>,<sup>*<\/sup>&nbsp;<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2451468-1&amp;h=1967353469&amp;u=http%3A%2F%2Fwww.nar.realtor%2Fpending-home-sales&amp;a=www.nar.realtor%2Fpending-home-sales\" target=\"_blank\" rel=\"nofollow noopener\">www.nar.realtor\/pending-home-sales<\/a>, a forward-looking indicator based on contract signings, increased 3.8% to 105.8 in March, up from 101.9 in February. Year-over-year contract signings declined 1.2%, making this the 15<sup>th<\/sup>&nbsp;straight month of annual decreases.<\/p>\n<div class=\"image lightbox-item \" data-src=\"https:\/\/mma.prnewswire.com\/media\/879800\/March_2019_PHS.jpg?p=publish\" data-asset-type=\"photo\" data-asset-id=\"Life_After_Debt_Aug_17_Event.jpg\" data-asset-label=\"General\" data-sub-html=\"March 2019 Pending Home Sales\" data-tweet-text=\"March 2019 Pending Home Sales\" data-facebook-share-text=\"March 2019 Pending Home Sales\" data-linkedin-text=\"March 2019 Pending Home Sales\" data-download-url=\"https:\/\/mma.prnewswire.com\/media\/879800\/March_2019_PHS.jpg?p=publish\" data-pinterest-text=\"March 2019 Pending Home Sales\" data-twitter-share-url=\"https:\/\/mma.prnewswire.com\/media\/879800\/March_2019_PHS.jpg?p=twitter\" data-linkedin-share-url=\"https:\/\/mma.prnewswire.com\/media\/879800\/March_2019_PHS.jpg?p=linkedin\" data-facebook-share-url=\"https:\/\/mma.prnewswire.com\/media\/879800\/March_2019_PHS.jpg?p=facebook\" data-pinterest-share-url=\"https:\/\/mma.prnewswire.com\/media\/879800\/March_2019_PHS.jpg?p=facebook\">\n <img decoding=\"async\" id=\"imageid_2\" class=\"gallery-thumb img-responsive aligncenter\" title=\"March 2019 Pending Home Sales\" src=\"https:\/\/www.realtrends.com\/blog\/wp-content\/uploads\/sites\/9\/2021\/01\/March_2019_PHS.jpg\" alt=\"March 2019 Pending Home Sales\">\n<\/div>\n<p style=\"text-align: center;\"><strong>March 2019 Pending Home Sales<\/strong><\/p>\n<p><span class=\"xn-person\">Lawrence Yun<\/span>, NAR chief economist, noted that pending home sales data has been exceptionally fluid over the past several months but predicted that numbers will begin to climb more consistently. &#8220;We are seeing a positive sentiment from consumers about home buying, as mortgage applications have been steadily increasing and mortgage rates are extremely favorable.&#8221;<\/p>\n<p>Yun noted that sales activity in the West had increased at a relatively stable rate for five consecutive months before the region saw a significant spike in activity in March. &#8220;Despite some affordability issues in the West, the numbers indicate that there is a reason for optimism. Inventory has increased, too. These are great conditions for the region.&#8221;<\/p>\n<p>Pointing to&nbsp;<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2451468-1&amp;h=3472448713&amp;u=https%3A%2F%2Fwww.realtor.com%2Fresearch%2Fdata&amp;a=active+listings+from+data+at+realtor.com%C2%AE\" target=\"_blank\" rel=\"nofollow noopener\">active listings from data at realtor.com<sup>\u00ae<\/sup><\/a>, Yun says the year-over-year increases indicate a potential rise in inventory.&nbsp;<span class=\"xn-location\">Denver<\/span>&#8211;<span class=\"xn-location\">Aurora<\/span>&#8211;<span class=\"xn-location\">Lakewood, Colo.<\/span>,&nbsp;<span class=\"xn-location\">Seattle<\/span>&#8211;<span class=\"xn-location\">Tacoma<\/span>&#8211;<span class=\"xn-location\">Bellevue, Wash.<\/span>,&nbsp;<span class=\"xn-location\">San Francisco<\/span>&#8211;<span class=\"xn-location\">Oakland<\/span>&#8211;<span class=\"xn-location\">Hayward, Calif.<\/span>,&nbsp;<span class=\"xn-location\">Portland<\/span>&#8211;<span class=\"xn-location\">Vancouver<\/span>&#8211;<span class=\"xn-location\">Hillsboro, Ore.<\/span>-Wash., and&nbsp;<span class=\"xn-location\">Nashville<\/span>&#8211;<span class=\"xn-location\">Davidson<\/span>&#8211;<span class=\"xn-location\">Murfreesboro<\/span>&#8211;<span class=\"xn-location\">Franklin, Tenn.<\/span>, saw the largest increase in active listings in March compared to a year ago.<\/p>\n<p>Although pending contracts appear to be on an overall upswing, Yun says current sales activity is underperforming. &#8220;In the year 2000, we had 5 million home sales. Today, we are close to that same number, but there are 50 million more people in the country,&#8221; he said. &#8220;There is a pent-up demand in the market, and we should see a better performing market in the coming quarters and years.&#8221;<\/p>\n<h4>March Pending Home Sales Regional Breakdown&nbsp;<s>&nbsp;<\/s><\/h4>\n<p>The PHSI in the Northeast declined 1.7% to 90.5 in March and is now 0.4% below a year ago. In the Midwest, the index grew 2.3% to 95.3 in March, 5.0% lower than March 2018.<\/p>\n<p>Pending home sales in the South jumped up 4.4% to an index of 127.2 in March, which is 0.7% higher than last March. The index in the West ascended 8.7% in March to 95.1 and fell only 1.6% below a year ago.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NAR: Pending Home Sales Climbed 3.8% in March Pending home sales rose in March, reversing course from a month prior, according to the National Association of Realtors\u00ae. Three of the four major regions saw growth last month, as the Northeast reported a minor slip in contract activity.<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[],"class_list":["post-887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NAR: Pending Home Sales Climbed 3.8% in March<\/title>\n<meta name=\"description\" content=\"Pending home sales rose in March, reversing course from a month prior, according to the National Association of Realtors\u00ae. Three of the four major regions saw growth last month, as the Northeast repor\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realtrends.com\/blog\/2019\/05\/01\/nar-pending-home-sales-climbed-3-8-in-march\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NAR: Pending Home Sales Climbed 3.8% in March\" \/>\n<meta property=\"og:description\" content=\"Pending home sales rose in March, reversing course from a month prior, according to the National Association of Realtors\u00ae. 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