Financial News: U.S. Pending Home Sales Jump Much More Than

U.S. Pending Home Sales Jump Much More Than Expected In March

04/21/2026 - 10:10:00 (RTTNews)

(RTTNews) - Pending home sales in the U.S. increased by much more than expected in the month of March, according to a report released by the National Association of Realtors on Tuesday.

NAR said its pending home sales index jumped by 1.5 percent to 73.7 in March after surging by 2.5 percent to an upwardly revised 72.6 in February.

Economists had expected pending home sales to climb by 0.9 percent compared to the 1.8 percent leap originally reported for the previous month.

"Contract signings rose in March despite higher mortgage rates, pointing to pent-up housing demand," said NAR Chief Economist Dr. Lawrence Yun. "A greater supply of inventory will help translate that demand into more home sales."

The bigger than expected increase in pending home sales partly reflected strength in the Northeast and South, where pending home sales spiked by 4.4 percent and 3.9 percent, respectively.

On the other hand, the report said pending home sales in the West tumbled by 2.6 percent and pending home sales in the Midwest slumped by 1.3 percent.

"A good number of markets in the South experienced price cuts over the past year but recorded the strongest job growth," Yun said. "That combination should lead to stronger housing market activity in the South this year."

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