US pending home sales see significant decline in December, casting a shadow over 2026 projections
December Sees Sharp Decline in Pending Home Sales
Homebuyers faced significant challenges in December as mortgage rates remained unchanged, housing inventory continued to shrink, and economic uncertainty persisted. The National Association of Realtors reported that the number of pending home sales—which tracks signed contracts for existing homes—fell by 9.3% compared to November. This decline surprised analysts, who had anticipated a modest increase. Additionally, sales were 3% lower than in December 2024.
Lawrence Yun, chief economist for the Realtors, commented, “The housing market still faces considerable hurdles. Although recent months showed some positive momentum in both pending and completed sales, the latest contract data for December has dampened optimism for a near-term recovery.”
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