Pending home sales across the US rose in March 2024.

The National Association of REALTORS(R) “Pending Home Sales Index,” which is based on signed accepted contracts on existing homes, rose 3.4% last month to 78.2.

It is up slightly, 0.1%, from the same point last year.

Pending home sales are homes that are in the contract stage before closing. Closing generally happens within a month or two of contract acceptance. The pending home sales index is an indicator of closings expected to occur over the next few months.

The National Association of REALTORS(R) is now forecasting 4.46 million existing-home sales in 2024, which is a 9% increase over 2023. I thank the National Association of REALTORS(R) for sharing their data and research. Here is a direct link to the NAR Pending Home Sales Index Report for March 2024 on NAR’s website.

Please note that this is a general overview of pending home sales across the US for March 2024. The Baltimore real estate market may be very different, and each individual area and neighborhood within the Baltimore real estate market can have different statistics. The Greater Baltimore Real Estate Home Demand Index for April 2024 showed a seven point increase, so this data from across the US is tracking but lower than our Baltimore real estate market.

To learn more about your Baltimore house value or Towson house value, please contact me. I would love to help you move forward!