Pending home sales slid 0.8% month over month in June after rising 1.8% in May even as supply continued to grow, the National Association of REALTORS® said.  

Geographically, the only region to post a monthly increase in pending sales was the Northeast, where they rose 2.1%, according to NAR’s Pending Home Sales Index. The largest decrease was in the West, at 3.9%, followed by the Midwest with a 0.8% decline and the South with a 0.7% decline. 

“The data shows a continuation of small declines in contract signings despite inventory in the market increasing,” NAR Chief Economist Lawrence Yun said. “Pending sales in the Northeast increased incrementally even though home price growth in the region has been the strongest in the country.” 

Year over year, pending sales slid 2.8% nationwide. Regionally, sales were unchanged compared to June 2024 in the Northeast and down 7.3% in the West, 2.9% in the South and 0.9% in the Midwest. 

Pending sales — where a contract has been signed but the transaction hasn’t yet closed — are considered a leading indicator and generally precede existing-home sales by a month or two.   

“The Realtors Confidence Index shows early indications of potential contract signings increasing moving forward,” Yun said. “Realtors are optimistic that homebuying and selling activity will increase. That confidence is supported by the fact that mortgage applications have been rising.”