In February 2025, the United States saw a 2% rise in pending home sales compared to the previous month, marking the first increase in three months and the most significant uptick since September of the previous year. This growth surpassed expectations of a 1.5% increase. Regionally, sales surged by 6.2% in the South and in the Midwest, there was a modest rise of 0.7%. Conversely, sales declined by 0.9% in the Northeast and decreased by 3% in the West. NAR Chief Economist Lawrence Yun noted, "Despite the slight monthly gain, contract signings are still considerably below typical historical levels. A significant drop in mortgage rates would bolster both demand and supply—by improving affordability and by reducing the impact of the mortgage rate lock-in effect."
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