<div id="readability-page-1"><div>Pending home sales were expected to rise for the third straight month in April (after crashing to record lows to end last year) as mortgage rates stabilized amid war worries, and they did, rising 1.4% MoM (better than the 1.0% expected) with March's gains revised higher too.<img width="500" height="313" src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfmB5A5_0.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfmB5A5_0.jpg"/>Source: BloombergThis left pending home sales up 3.35% YoY - the best annual gain since Nov 2024 - lifting the index off record lows...<img width="500" height="345" src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfm5F92_1.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfm5F92_1.jpg"/>Source: BloombergThe report suggests the housing market was finding some footing entering the busiest selling season of the year, helped by gradually improving affordability since mid-2025.<blockquote>“Buyers are coming out with cautious optimism despite increasing economic uncertainty and a slight rise in mortgage rates,” NAR Chief Economist Lawrence Yun said in a statement.</blockquote>That said, lower-income prospective buyers remain challenged by high mortgage rates and elevated asking prices.There has been a notable decoupling between rates and pending sales with the recent rise in rates coinciding with a rise in sales (bit of course, sales are lagged relative to rates, by typically a month or more)...<img width="500" height="312" src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfmB90E.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/bfmB90E.jpg"/>Contract signings increased last month in three of four US regions. Pending sales declined in the South, the biggest housing market in the country, after solid increases in the prior two months.As a reminder, because houses typically go under contract a month or two before they’re sold, the pending home sales data tend to be a leading indicator of closings that are captured in the monthly previously owned home sales reports.</div></div>

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Pending home sales in the US rose 1.4% MoM in April, marking the third consecutive month of increases, driven by stabilized mortgage rates. This resulted in a 3.35% YoY gain, the best since November 2024. Despite economic uncertainty, buyers are showing cautious optimism, although lower-income buyers face challenges from high rates and prices. Sales increased in three of four regions, with a decline in the South, the largest housing market.

- Pending home sales increased by 1.4% month-over-month in April, exceeding expectations, driven by stabilized mortgage rates and improving affordability.  
- Year-over-year, pending home sales rose 3.35%, marking the highest annual gain since November 2024, as the housing market shows signs of recovery approaching the busy selling season.  
- However, lower-income buyers continue to face challenges due to high mortgage rates and elevated asking prices, with a notable disparity between rising rates and sales.

"Cautious Optimism": US Pending Home Sales Rise For 3rd Straight Month In April