Pending home sales rose +4.0% MoM (vs +0.3% MoM expected) and +3.8% YoY in August 2025, marking a solid rebound supported by lower mortgage rates and improving affordability.

• The Northeast declined -1.1% MoM but gained +2.6% YoY, showing weakness on the month but better annual comparisons.

• The Midwest surged +8.7% MoM and +6.7% YoY, the strongest performing region, driven by affordability advantages.

• The South increased +3.1% MoM and +4.2% YoY, maintaining steady momentum in both measures.

• The West rose +5.0% MoM and +0.2% YoY, reflecting sharp monthly gains but nearly flat annual growth.

• NAR’s survey showed 19% of members expect higher buyer traffic (up from 16% last month), while 19% expect higher seller traffic (down from 21% last month but above 18% a year ago).