Pending home sales rose 1.8% MoM (vs -0.3% MoM expected) and 1.1% YoY in May 2025, with all four US regions posting monthly gains and mixed annual trends.

• The West led MoM growth at 6.0% but was down -1.2% YoY; the Northeast rose 2.1% MoM and fell -0.5% YoY.
• The Midwest edged up 0.3% MoM and 2.6% YoY, while the South rose 1.0% MoM and 2.0% YoY.
• The national increase reflects steady job gains and rising wages, though affordability remains constrained by mortgage rate volatility.
• The South continues to benefit from higher inventory and job creation, while tight supply in the Northeast is pushing prices above list for many homes.