Supply & demand · Home sales and listings
Pending sales
Homes under contract but not yet closed — the leading indicator of closed sales.
A pending sale is a home with an accepted offer that has not yet completed. Because it is recorded at contract rather than at closing, it leads closed sales by roughly the length of an escrow period.
Pending sales are the best available early read on demand, at the cost of certainty: some share fall through on financing, inspection or appraisal, and that share itself rises when credit tightens. A gap opening between pendings and later closings is itself a signal.
Also known as: under contract, homes under contract.
See pending sales in the data
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Pending sales — FAQ
What is pending sales in housing market data?+
Homes under contract but not yet closed — the leading indicator of closed sales. A pending sale is a home with an accepted offer that has not yet completed. Because it is recorded at contract rather than at closing, it leads closed sales by roughly the length of an escrow period.
Why does pending sales matter?+
Pending sales are the best available early read on demand, at the cost of certainty: some share fall through on financing, inspection or appraisal, and that share itself rises when credit tightens. A gap opening between pendings and later closings is itself a signal.
Where does this housing market data come from?+
Sales, listing and inventory figures come from Redfin's public housing-market dataset, which is compiled from multiple listing services. Coverage is limited to the metros and counties Redfin reports. pumsdata is independent and not affiliated with Redfin.