Pending Home Sales Rise, Remain Below 2025 Levels
Pending Home Sales Rise, Remain Below 2025 Levels
Anonymous
Key Points
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The August increase followed a revised 2.6% decline in pending sales in July, while one market forecast had called for a 2.0% gain.
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Georgetown’s 78628 ZIP code recorded the most sales among the three local ZIP codes, with 123 homes sold in August.
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Separate Redfin data showed pending sales falling to their lowest level in nearly three years for the four weeks ending Sept. 13; Redfin economists said the weaker market was giving remaining buyers more negotiating leverage and reducing competition.
U.S. pending home sales rose 0.3% in August to an index of 71.2, marking the first monthly gain since May World Property Journal. Yet the market remains weak: sales fell 4.7% below August 2025 levels and sit roughly 30% below pre-pandemic activity, according to National Association of Realtors. Elevated mortgage rates continue to choke demand despite steady job and income growth.
Regional performance was uneven. Contract signings grew in the South and West but fell in the Northeast and Midwest, with annual sales down across all four regions National Association of Realtors. Separate data from Redfin showed pending sales hitting their lowest level in nearly three years for the four weeks ending September 13, though the weaker market is giving buyers more negotiating leverage.
Georgetown Sales Jump While Prices Slide
Georgetown home sales climbed to 274 in August from 251 a year earlier, driven largely by the 78628 ZIP code, which recorded 123 sales Community Impact. However, prices declined across all three Georgetown ZIP codes. The steepest drop came in 78628 with an 18% price decline, while market time fell in ZIP codes 78626 and 78633 but rose in 78628 Community Impact.
July's Sharp Decline Set Low Bar for August
August's 0.3% gain came after a 2.3% drop in July, which had been revised downward World Property Journal. The August increase fell short of some forecasts that had predicted a 2.0% gain. The modest rebound shows the housing market lacks momentum despite the positive monthly direction.
Mortgage Rates Remain the Core Problem
Economists say elevated mortgage rates are the main brake on housing demand National Association of Realtors. Even as jobs and incomes grow, higher borrowing costs deter buyers. In the Northeast and Midwest, faster price appreciation has added to the pressure, driving sharper year-over-year declines in those regions.
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