Modest Gains for Pending Home Sales as Prices Continued to Climb in April

Single-family pending home sales increased again in April, but only by one percent compared to the same time last year. While single-family pending sales were up, condominiums put under agreement went down over six percent in April. The median price for both single-family homes and condos continued their upward trend. Realtors® confidence both in the market and in home prices was positive in April, with the Realtor® Market Confidence Index reaching a new high.

April Pending Sales:

Single Family April 2017 April 2016 % Change
Sales 6,062 6,001 1.0%
Median Price $360,000 $349,900 2.9%
  • Pending sales have been up 49 of the last 50 months
Condominium April 2017 April 2016 % Change
Sales 2,316 2,470 -6.2%
Median Price $345,000 $329,950 4.6%
  • Pending sales have been up or flat 18 of the last 20 months

Realtor® Market and Price Confidence Indexes:

Confidence Index April 2017 April 2016 %Change
Market 85.47 82.88 3%
Price 80.34 76.71 5%
  • The Realtor® Market Confidence Index has been up or flat for 25 straight months
  • Highest Realtor® Market Confidence Index has been since MAR began recording the data in 2008
  • The Realtor® Price Confidence Index is up over the 80 mark for the second time since 2015
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition