Contract signings increased for the second consecutive month, signaling improving buyer activity and potential momentum for existing-home sales heading into the summer market.
The National Association of Realtors® (NAR) reported that pending home sales increased in April, signaling continued buyer activity despite ongoing affordability challenges.
Pending home sales—properties under contract but not yet closed—rose 1.4% from March and were 3.2% higher than April 2025. Because pending sales typically lead existing-home sales by one to two months, this increase may indicate stronger closed sales activity heading into the summer market.
Regional Performance
Compared to one year ago:
- South: +4.7%
- West: +3.8%
- Midwest: +2.7%
- Northeast: -0.6%
Compared to the previous month:
- Northeast: +6.6%
- Midwest: +3.0%
- West: +0.4%
- South: -0.7%
The national Pending Home Sales Index (PHSI) measured 74.8 in April.
While the recent gains are encouraging, the index remains below the benchmark level of 100 for the 49th consecutive month. The 100 level is based on housing market activity in 2001 and generally corresponds with existing-home sales exceeding 5 million annually.
What This Means for Buyers and Sellers
The increase in contract signings suggests that motivated buyers are continuing to enter the market, particularly in regions where inventory has improved and pricing has stabilized. However, overall activity remains below historical norms, highlighting the ongoing impact of mortgage rates and affordability concerns.
For homeowners considering a sale, local market conditions remain critically important. National trends provide valuable context, but real estate remains highly localized. Inventory levels, buyer demand, pricing trends, and days on market can vary significantly from one community to the next.
Thinking about buying or selling in Chicagoland or the Northwest Suburbs? Understanding your local market is key to making informed decisions. With over 41 years of experience, more than 1,190 successful transactions, and over $685 million in closed sales, I provide the hyper-local market intelligence, strategic guidance, and white-glove service needed to navigate today's market successfully.
