Pending home sales in the United States rose by 1.8% from the previous month in April of 2025, trimming the 6.3% drop in the previous month and contrasting with market expectations of a 0.3% drop.
The rebound was broadly distributed through the whole country, led by the West (6%) and the Northeast (2.1%), while growth was less pronounced in the South (1%) and the Midwest (0.3%).
"Consistent job gains and rising wages are modestly helping the housing market," said NAR Chief Economist Lawrence Yun.
"Hourly wages are increasing faster than home prices. However, mortgage rate fluctuations are the primary driver of homebuying decisions and impact housing affordability more than wage gains."
Source: Trading Economics
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