Pending home sales fell -0.8% MoM and -2.8% YoY in June 2025, with contract activity declining in most regions despite improving inventory and rising mortgage applications.

• The West led the declines with sales down -3.9% MoM and -7.3% YoY, followed by the South (-0.7% MoM, -2.9% YoY) and Midwest (-0.8% MoM, -0.9% YoY).
• The Northeast was the only region with MoM growth (+2.1%) and held flat YoY.
• Homebuyer traffic rose 4% YoY and seller traffic increased 6% YoY, according to the REALTORS Confidence Index.
• NAR noted potential for a rebound, citing stronger homebuying sentiment and rising mortgage applications.