---
source: National Association of REALTORS
url: https://www.nar.realtor/newsroom/nar-pending-home-sales-report-shows-1-8-increase-in-february
document_type: html
date_retrieved: 2026-03-17T14:00:00Z
period: February 2026
parent_publication: Pending Home Sales Index
indicators_covered: [Pending Home Sales MoM, Pending Home Sales YoY]
---

# NAR Pending Home Sales Report - February 2026

## Executive Summary

WASHINGTON (March 17, 2026) – Pending home sales in February increased by 1.8% from the prior month and declined 0.8% year over year, according to the National Association of REALTORS® Pending Home Sales report. The report provides the real estate ecosystem—including agents and homebuyers and sellers—with data on the level of home sales under contract.

## Key Findings

### Month Over Month
- **1.8% increase** in pending home sales
- Gains in the Midwest, South and West
- Declines in the Northeast

### Year Over Year
- **0.8% decrease** in pending home sales
- Gains in the South and West
- Declines in the Northeast and Midwest

## Regional Performance - February 2026

### National Level
| Period | Index Value | Change |
|--------|-------------|--------|
| Jan 2026 | 70.8 | - |
| Feb 2026 | 72.1 | +1.8% MoM / -0.8% YoY |

### Northeast
- 3.6% decrease month over month
- 12.1% decrease year over year
- Index: 55.7

### Midwest
- 4.6% increase month over month
- 0.1% decrease year over year
- Index: 74.3

### South
- 2.7% increase month over month
- 1.2% increase year over year
- Index: 87.5

### West
- 0.9% increase month over month
- 3.2% increase year over year
- Index: 58.4

## Market Commentary

Dr. Lawrence Yun, NAR Chief Economist, stated:

> "The slight gain in pending contracts appears to be driven by improved affordability conditions. However, those conditions could reverse if higher oil prices lead to an uptick in mortgage rates. The Midwest—the most affordable region of the country—was the strongest performer in February. But the Northeast was held back by a combination of higher home prices and a shortage of supply."

Regarding first-time homebuyers, Yun noted:

> "For first-time homebuyers, purchasing a home is not a snap decision. It takes time to build credit, save for a down payment, and fulfill existing rental lease agreements. Still, there is sizable pent-up demand that could be released into the market. Although job gains have been sluggish in recent months, there are still 6 million more jobs in the country than in the pre-COVID period."

## Top 10 Metropolitan Areas - Year-over-Year Gains

Among the 50 largest metro areas, the following markets posted the biggest annual increases in pending home sales (Realtor.com® Economics data):

1. San Diego–Chula Vista–Carlsbad, CA: +13.5%
2. Jacksonville, FL: +12.1%
3. San Jose–Sunnyvale–Santa Clara, CA: +10.6%
4. Denver–Aurora–Centennial, CO: +10.5%
5. Miami–Fort Lauderdale–West Palm Beach, FL: +10.0%
6. Phoenix–Mesa–Chandler, AZ: +9.8%
7. Sacramento–Roseville–Folsom, CA: +9.3%
8. Kansas City, MO-KS: +8.7%
9. Austin–Round Rock–San Marcos, TX: +8.1%
10. Oklahoma City, OK: +8.7%

## Index Data Tables

### Pending Home Sales Index - Seasonally Adjusted Annual Rate

| Year | Annual | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|------|--------|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|
| 2023 | 76.5 | - | - | - | - | - | - | - | - | - | - | - |
| 2024 | 74.4 | - | - | - | - | - | - | - | - | - | - | - |
| 2025 | 73.5 | 72.7 | 74.5 | 72.5 | 73.3 | 72.7 | 72.8 | 74.7 | 74.4 | 75.6 | 77.2 | 71.5 |
| 2026 | - | 72.1 | - | - | - | - | - | - | - | - | - | - |

**US 2026 Feb Change:** +1.8% (MoM), -0.8% (YoY)

### Regional Breakdown - February 2026 (Seasonally Adjusted)

| Region | 2023 | 2024 | 2025 Feb | 2026 Feb | MoM % | YoY % |
|--------|------|------|----------|----------|-------|-------|
| Northeast | 64.9 | 64.8 | 63.4 | 55.7 | -3.6% | -12.1% |
| Midwest | 77.1 | 74.3 | 74.4 | 74.3 | +4.6% | -0.1% |
| South | 93.1 | 88.7 | 86.5 | 87.5 | +2.7% | +1.2% |
| West | 58.7 | 59.5 | 56.6 | 58.4 | +0.9% | +3.2% |

### Regional Breakdown - Not Seasonally Adjusted

| Region | 2026 Jan | 2026 Feb | MoM % | YoY % |
|--------|----------|----------|-------|-------|
| Northeast | 67.0 | 46.7 | +14.5% | -11.9% |
| Midwest | 67.0 | 76.3 | +44.5% | -0.1% |
| South | 67.3 | 77.9 | +10.0% | +1.2% |
| West | 56.2 | 55.6 | +13.9% | +3.0% |

## Understanding the Pending Home Sales Index

### Definition

The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

### Significance

Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales. Variations in the length of the process from pending contract to closed sale can be caused by issues such as:
- Buyer difficulties with obtaining mortgage financing
- Home inspection problems
- Appraisal issues

### Methodology

The index is based on a sample that covers about 40% of multiple listing service data each month. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

### Baseline

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

## Upcoming Releases

- **Existing-Home Sales for March:** April 13, 2026
- **Next Pending Home Sales Index:** April 21, 2026
- All release times: 10 a.m. Eastern

For the NAR Statistical News Release Schedule, visit the NAR website.

## About the National Association of REALTORS®

The National Association of REALTORS® is involved in all aspects of residential and commercial real estate. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes, visit facts.realtor.

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*This document is the processed version of the official NAR Pending Home Sales Index report for February 2026, released on March 17, 2026. Full data tables are included with regional breakdowns for both seasonally adjusted and not seasonally adjusted indices.*