Pending home sales in November jumped 3.3% month over month and 2.6% year over year, representing the strongest month in almost three years, the National Association of REALTORS® said, citing its Pending Home Sales Report.  

By region, contract signings were up across the board on both a monthly and annual basis. 

“Homebuyer momentum is building. The data shows the strongest performance of the year after accounting for seasonal factors, and the best performance in nearly three years, dating back to February 2023,” NAR Chief Economist Lawrence Yun said. “Improving housing affordability — driven by lower mortgage rates and wage growth rising faster than home prices — is helping buyers test the market. More inventory choices compared to last year are also attracting more buyers to the market.”  

November’s Realtors Confidence Index survey found that 22% of Realtors expect an increase in buyer traffic over the next three months, up from 17% in October but down from 24% in November 2024. Meanwhile, 18% expect an increase in seller traffic, up from 16% last month and down from 22% a year ago. 

“As we look to 2026, we believe sales activity next year will continue to be shaped more by ‘life happens’ moments — job changes, marriages, births and other personal milestones — than by falling mortgage rates,” First American Deputy Chief Economist Odeta Kushi said. “With affordability still stretched, and inventory tight in many regions, the recent pullback in rates and cooling price growth have helped stabilize the landscape. These shifts offer a clearer path for buyers and sellers as 2026 approaches, setting the stage for a more constructive year ahead.”