Pending Home Sales Are Higher Than the Last 2 Years: What It Means for Home Sellers

Think Nobody's Buying Homes Right Now? Think Again.

If you've been thinking about selling, you've probably seen plenty of headlines suggesting buyers have just about disappeared. But there's a big difference between a slow market and a stalled one.

Yes, mortgage rates are still higher than most people would like. Homes aren’t selling as fast as they were. And every week seems to bring another headline about buyers sitting on the sidelines. But here's what you haven't heard.

Despite everything going on, buyer demand has been remarkably resilient.

In fact, more sellers are getting to put up the “pending sale” sign now than during the last two years. What's even more surprising is that they're doing it at a time of year when activity usually starts to slow down.

And if you're thinking about selling, that's a trend worth paying attention to.

Pending Home Sales Show Buyers Are Still Active

One of the best ways to measure buyer demand is by looking at pending home sales. Those are homes that have gone under contract but haven't closed yet. Think of them as a real-time pulse check on the market and whether buyers are still buying.

HousingWire Data shows more homes are going under contract than at the same time the past 2 years (see graph below):

While it may come as a surprise, the numbers speak for themselves. It doesn’t mean buyers are everywhere, but it does mean they’re still active right now. And even if this ebbs and flows a bit in the weeks ahead, right now we’re still ahead of where we’ve been lately. That's encouraging news if you're thinking about selling because it tells us something important…

People haven't stopped buying homes. Serious buyers are still making moves.

Why Buyers Are Still Purchasing Homes Despite Higher Mortgage Rates

And a lot of these people are buying because they decided they can't keep waiting. Whether it's a growing family, a new job, retirement, or simply wanting a different home, life keeps moving… even when mortgage rates stay higher than we'd like. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

 

“A late spring buyer rush—even with mortgage rates not budging—is an indication of pent-up housing demand and consumers’ acceptance of above-6% mortgage rates as the new normal."

 

So, if you've been worried no one’s buying, this data should give you some confidence. Today’s buyers aren't just casually browsing open houses on a Sunday afternoon, they've spent months waiting for rates to improve and now they realize they can’t wait anymore.

That means they have a purpose and a timeline. And that's exactly the kind of motivated buyer you want to work with.

What This Means if You're Selling Your Home

Does that mean every house will sell instantly? No.

Today's market is more balanced than it was a few years ago.  So, you can’t just price your house however you want or skip preparing it for the market.

Now buyers have choices, and they're willing to wait for the right home at the right price. But sellers who understand today's market (and price and position their homes right) are still finding success. Because the idea that "no one's buying right now" just isn't supported by the data.

The buyers are there.

The opportunity is there.

The key is having the right strategy to capture it.

The Bottom Line for Home Sellers

This year's housing market may be moving more slowly than many of us hoped, but buyer demand is proving to be more resilient than the headlines suggest.

If you're wondering whether there are enough buyers for your home in North County San Diego, let's connect. I'll help you understand what's happening in your local market and build a strategy tailored to your goals.

While you're here, you can also:

• Find out what your home may be worth with a Home Value Estimate.
• Browse homes for sale in North County San Diego to see what buyers are looking at today.
• Explore the latest North County San Diego Housing Market Snapshot for current market trends.
• Estimate your monthly payment with our Mortgage Calculator.
• Contact me if you'd like personalized guidance on buying or selling a home in North County San Diego.

Frequently Asked Questions About Pending Home Sales and Today's Housing Market

Are people still buying homes despite today's mortgage rates?

Yes. While higher mortgage rates have affected affordability, people continue to buy homes for many reasons, including job changes, growing families, downsizing, retirement, and relocations. Recent pending home sales data also shows that more homes are going under contract than they were at the same point during the previous two years, suggesting that motivated buyers remain active in today's housing market.

What do pending home sales tell us about the housing market?

Pending home sales represent homes that have gone under contract but have not yet closed. Because they measure signed purchase agreements, they are often viewed as an early indicator of buyer activity. While pending home sales don't guarantee future market performance, they can provide valuable insight into current buyer demand and broader housing market trends.

Does higher buyer demand mean every home will sell quickly?

Not necessarily. Even when buyer demand is healthy, factors such as pricing, property condition, presentation, marketing, location, and local market conditions all influence how quickly a home sells. Today's housing market is generally more balanced than it was a few years ago, making preparation, pricing, and a well-planned selling strategy especially important.

About Patricia Villanueva, North County San Diego Real Estate Agent

Patricia Villanueva is a North County San Diego Real Estate Agent dedicated to helping buyers, sellers, and investors make informed real estate decisions with confidence. Patricia Villanueva serves communities throughout Carlsbad, Oceanside, Vista, San Marcos, Escondido, Fallbrook, Encinitas, and the surrounding areas of North County San Diego.

Patricia Villanueva provides clients with local market insights, housing market updates, home valuation guidance, strategic marketing, skilled negotiation, and personalized real estate advice tailored to their goals. Whether you're buying your first home, selling your current property, relocating, or investing in real estate, she is committed to helping you navigate every step of the process.

On this website, you'll find valuable resources including North County San Diego housing market updates, home value estimates, homes for sale, a mortgage calculator, neighborhood guides, and educational articles designed to help you make informed real estate decisions.

If you're planning to buy or sell a home in North County San Diego, contact Patricia Villanueva to discuss your real estate goals or explore the helpful resources available throughout the website.

Disclaimer: The information provided in this article is for general informational and educational purposes only. While every effort is made to ensure the information is accurate and up to date at the time of publication, market conditions, laws, regulations, and other factors may change over time. This content should not be considered financial, legal, tax, or investment advice. Readers should consult with qualified professionals regarding their specific circumstances before making any real estate or financial decisions.