Pending home sales
Boston Condos for Sale and Apartments for Rent
Pending home sales
- Pending Sales Growth: The year started with a 9.2% annual gain in pending home sales across the Boston area, marking one of the highest year-over-year increases in the U.S..
- Closing Volume: For comparison, during December 2025, a total of 101 condo listings successfully closed in Boston.
- Days on Market: The median time a Boston condo stays on the market before going under agreement is currently around 54 days, up slightly from 47 days in previous cycles.
Pending home sales
Pending home sales jump to near three-year high as rates pull buyers back
Contract signings climbed nationwide in November: NAR
Pending home sales climbed 3.3 percent in November from the previous month and were up 2.6 percent year over year, according to a report from the National Association of Realtors. The increase marked the strongest seasonally adjusted showing in nearly three years, dating back to early 2023, as falling mortgage rates coaxed more buyers into signing contracts.
Regionally, the comeback was uneven but broad. The West posted the biggest month-over-month gain, with pending sales surging to 9.2 percent in November. The South followed with a 2.4 percent increase, while the Northeast and Midwest logged more modest gains of 1.8 percent and 1.3 percent, respectively. That marked a shift from October, when the Midwest led the country with a 5.3 percent jump.
NAR chief economist Lawrence Yun pointed to improving affordability as the key driver. Lower mortgage rates, wage growth outpacing home prices and a larger pool of listings compared to last year are all helping buyers test the waters, he said.
Prices, however, are still moving higher. The median existing-home price reached $409,200 in November, even as monthly mortgage payments fell from their summer peak. Mortgage application data shows buyers are paying close attention: applications for home purchases have posted double-digit annual gains in recent weeks.
Still, the recovery remains sensitive to borrowing costs. NAR forecasts that mortgage rates could average around 6 percent in 2026, down from roughly 7 percent at the start of this year. That single percentage-point drop could pull millions of additional households, including renters, into the buyer pool, according to the group.
For now, the data suggests the housing market’s long freeze may finally be starting to thaw, provided rates don’t spike again.
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Pending home sales
Pending home sales climb 1.9% in October
Pending home sales in October rose 1.9% month over month but slipped 0.4% year over year, according to the National Association of REALTORS® Pending Home Sales Report.
By region, pending sales declined in the West on a monthly basis but rose in the Midwest, Northeast and South. Year-over-year, sales increased in the Midwest and South and decreased in the Northeast and West.
“The Midwest shined above other regions due to better affordability, while contract signings retreated in the more expensive West region,” NAR Chief Economist Lawrence Yun said. “Days on the market typically lengthen from November through February, providing better negotiating power to buyers during the holiday season.
Pending home sales
Pending home sales
Let’s start with the good news, Boston condo for sale inventory levels are on the rise, offering buyers more choices. In addition, month-over-month pending sales is going in the right direction.
However, pending home sales are slightly down compared with last year.
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Updated: Boston Real Estate Blog 2025
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Updated: Boston Condos for Sale Blog 2025
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Pending home sales
Pending home sales post surprise gain in February but remain sluggish
Pending home sales topped expectations in February but remained “well below” historical levels, the National Association of REALTORS® (NAR) said, citing its Pending Home Sales Index.
The index rose 2% month over month in February, compared to economists’ consensus estimate of a smaller 0.9% gain. Year over year, the index was down 3.6%.
“Despite the modest monthly increase, contract signings remain well below normal historical levels,” NAR Chief Economist Lawrence Yun said. “A meaningful decline in mortgage rates would help both demand and supply — demand by boosting affordability, and supply by lessening the power of the mortgage rate lock-in effect.”
“Considering the Federal Reserve’s recent forecast for slower economic growth, we expect mortgage rates to slide moderately lower,” said Yun. “But the current high national debt will prevent mortgage rates from falling drastically — and certainly not to the 4%-to-5% range seen during President Trump’s first term.”
Pending sales, in which the contract has been signed but the transaction has not closed, are considered a leading indicator and generally precede existing-home sales by a month or two.
“While pending home sales exceeded expectations in February, they are hovering near historical lows, signaling a slow start to the busy spring homebuying season,” First American Senior Economist Sam Williamson said. “Purchase mortgage applications — another leading indicator of housing activity — rebounded slightly in March but also remain well below historical levels.”
Pending home sales
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Pending home sales
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