Syndicated post from InmanNews.
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In November, pending home sales made their best showing yet of 2025, in a sign of growing homebuyer confidence in response to factors like increased affordability and higher inventory.
Homebuyers made their way to the market with growing confidence in November, giving a welcome boost to pending home sales in the National Association of Realtors’ final report of the year.
Pending home sales were up 3.3 percent month over month and 2.6 percent year over year, in the best showing of pending home sales for 2025, after accounting for seasonality. By region, pending home sales rose on both a monthly and an annual basis across all four major regions of the country.
That buyer movement is giving Realtors renewed confidence as well — 22 percent of NAR members believe they will see an increase in buyer traffic in the next three months, up from 17 percent in October. However, that figure is down from 24 percent of NAR members who believed traffic would increase during the same period the year prior.
Lawrence Yun
On the seller side, 18 percent of NAR members believe there will be an increase in seller activity, up from 16 percent the month before, and down from 22 percent the year before.
“Homebuyer momentum is building,” NAR Chief Economist Lawrence Yun said in a statement. “The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023. 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.”
During the last week of the year, the average 30-year fixed-rate mortgage hit its lowest level of 2025, dipping down to 6.15 percent, according to Freddie Mac.
Pending home sales saw the biggest month over month boost in the West, where pending home sales were up 9.2 percent from the previous month and up 2.4 percent from the year before.
In the South, pending home sales increased by 2.4 percent from October 2025, and by 3.3 percent from November 2024.
The Midwest and Northeast saw more modest growth, with the Midwest posting a 1.3 percent increase on a monthly basis and a 2.2 percent increase on an annual basis. Pending sales ticked up by 1.8 percent on both a monthly and annual basis in the Northeast.
