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At the local level, several markets posted notable year-over-year gains in pending home sales. Among the 50 largest metro areas, the following markets posted the biggest annual increases.
- San Diego–Chula Vista–Carlsbad, CA (+13.5%)
- Jacksonville, FL (+12.1%)
- San Jose–Sunnyvale–Santa Clara, CA (+10.6%)
- Denver–Aurora–Centennial, CO (+10.5%)
- Miami–Fort Lauderdale–West Palm Beach, FL (+10.0%)
Runners-up included metros in Arizona, Oklahoma, Texas and Kansas.2
Mortgage rates surged on Friday, March 13th, as bond markets reacted to the Iran conflict. The average rate on the 30-year fixed loan hit 6.41%, which is the highest rate since the first week of September 2025.
Even as rates began rising last week, mortgage demand from homebuyers rose, according to the Mortgage Bankers Association. However, this week's surge in rates could put another damper on the spring home buying season.
For someone buying a $400,000 home around the national median price, with 20% down on a 30-year fixed mortgage, the monthly payment is now about $115 more than it would have been two weeks ago.1
Pending Home Sales Increase in February ![]() According to the most recent NAR Pending Home Sales report, pending home sales increased by 1.8% from the prior month. However, this number still represents an annual (year-over-year) decline of 0.8%. Here are the regional pending home sales figures for last month.
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