Sellers return as buyers stall — demand slumps to lowest since March
Regional divergence grows sharper
The national picture conceals stark regional contrasts. West Palm Beach, Florida led pending sales gains with a 9.6% year-over-year increase, followed by San Francisco at 4.7%.
Seattle posted the steepest decline, with pending sales down 17.9% year over year, and Houston fell 16.3%. For brokers originating in Texas markets, that trajectory matters — Houston also saw the largest new listings gains at 10%, while Dallas saw new listings fall 13.6%.
Jamie Derouen, a Redfin Premier agent in the Houston area, noted that life circumstances continue to drive listing decisions regardless of broader market dynamics.
“Some of my clients are selling because they’re retiring and downsizing, some are relocating for a job, and some are growing their families,” Derouen said.
“Some homeowners have been waiting for mortgage rates to fall and demand to surge — but now they realize that’s unlikely to happen anytime soon, so they’re taking the plunge now.”
