Redfin Reports Pending Home Sales Fall 6%, the Biggest Drop in Nearly a Year

Core Insights - U.S. pending home sales experienced a significant decline of 5.8% year-over-year during the four weeks ending December 14, marking the largest drop since early 2025 [1] Summary by Category Market Performance - The decline in pending home sales is observed across nearly all major U.S. metro areas, with only six out of the 50 most populous areas reporting increases [1] - The most substantial decreases in pending sales were recorded in San Jose, CA with a drop of 35.1%, followed by Houston at 20.9%, and Oakland, CA at 17.6% [1] Sales Trends - The typical U.S. home that does sell is facing a challenging market environment, as indicated by the overall decline in pending sales [1]