Pending home sales fell -0.4% MoM in July 2025 but were up +0.7% YoY, showing modest year-over-year improvement despite regional divergences.

• The Northeast saw sales decline -0.6% MoM and -0.6% YoY, marking weakness on both measures.

• The Midwest dropped -4.0% MoM but was up +1.3% YoY, reflecting a sharper monthly fall but better annual momentum.

• The South was essentially flat (-0.1% MoM) but gained +1.8% YoY, showing steady improvement.

• The West rose +3.7% MoM but declined -1.9% YoY, highlighting short-term strength amid softer annual comparisons.

• NAR’s survey showed 16% of members expect higher buyer traffic (unchanged YoY), while 21% expect higher seller traffic, up from 17% last year.