FX.co ★ US Pending Home Sales Stall in September

In September 2025, pending home sales in the United States remained flat, following a revised 4.2% increase recorded in August, and falling short of market predictions of a 1.6% rise. While the Northeast experienced a gain of 3.1% and the South saw a 1.1% increase, these were counterbalanced by declines in the Midwest (-3.4%) and the West (-0.2%). Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), noted, "Contract signings are at the second-highest level for the year. However, they still fall short of the threshold required for a robust market, even though mortgage rates have dipped to their lowest in a year. The stock market achieved record highs in September, and housing wealth expanded, yet this was insufficient to counterbalance a potentially weakening job market." Yun further mentioned that inventory levels have risen to a five-year high, providing buyers with more options and better opportunities for price negotiation. Looking forward, he anticipates that mortgage rates, moving towards three-year lows, will enhance affordability. However, the ongoing government shutdown might temporarily dampen home sales activity. On an annual basis, pending home sales decreased by 0.9%.