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June US Pending Home Sales Index Falls Much More Than Expected

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Pending home sales fell by 5.4% in June, well below the 0.5% decrease expected in survey compiled by Bloomberg as of 7:30 am ET and following a 3.5% increase in May, according to the National Association of Realtors.

The monthly sales index was down 0.3% from June 2025.

"The highest mortgage rates in nearly a year and the record-high national median home price together are contributing to a tepid housing market that is especially difficult for first-time homebuyers," NAR Chief Economist Lawrence Yun said. "However, job gains can help support housing demand."

Pending home sales declined in all four regions of the country from May. The index decreased in South and West regions compared with a year earlier but rose in the Midwest and Northeast regions.

"It is worth emphasizing that it is closing activity, not contract signings, that generates economic impact," Yun said. "Pending contracts are only suggestive of upcoming closed deals and do not align perfectly, due to fallout rates and contract contingencies."

July existing-home sales data are scheduled for release on August 11

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