PENDING HOME SALES POST
STRONGEST GAIN OF SPRING
via themortgagepoint.com—Pending home sales in May were by 3.8% month-over-month and 4.8% year-over-year, according to the National Association of Realtors Pending Home Sales report.
Month-over-month and year-over-year pending home sales rose in the Northeast, Midwest, South and West.
The report provides the real estate ecosystem—including agents, homebuyers and sellers, with data on the level of home sales under contract.
“A late spring buyer rush—even with mortgage rates not budging—is an indication of pent-up housing demand and consumers’ acceptance of above-6% mortgage rates as the new normal,” said NAR Chief Economist Dr. Lawrence Yun. “The inventory-constrained Northeast region, which has seen faster home price growth but slower home sales for several months, is now showing more buyer contract signings. More supply is needed to help moderate home price growth.”
“Going forward, falling oil prices will help lower mortgage rates,” Yun said. “But declines will be modest given sizable borrowing by the federal government and strong AI investment spending by tech companies.”
Brushed Aside Headwinds
First American Deputy Chief Economist Odeta Kushi said that home buyers have brushed aside headwinds.
“Home buyers are proving more resilient than expected. Even with mortgage rates drifting higher this spring, contract signings increased as improving inventory and pent-up demand continue to bring buyers back into the market,” Kushi said.
She said that May showed a very strong result.
“Pending home sales jumped 3.8% in May, more than triple the median consensus expectation of a 1% increase and marking another positive sign for housing demand. Contract signings were also nearly 5% higher than a year ago, extending the gradual improvement in buyer activity. Because pending sales are based on signed contracts rather than closings, they provide an early indication of existing-home sales activity over the next one to two months,” Kushi said.
May’s numbers show that that housing demand has improved.
“The latest increase adds to a growing list of indicators suggesting that housing demand has firmed this spring. Mortgage purchase applications, another leading indicator of home sales, have been trending higher for several months. Together, rising purchase …READ MORE
The Current Miami Springs Market
Things are moving in MS/VG markets this week. There are now twenty-nine (29) active listings. About 45% are priced over $1,000,000. Of those, three (3) listings are over $2million, and one is asking close to $4million!
High prices remain and there are no listings under $700,000, but there are still qualified Buyers out there!
The market is active and much busier than last year!
SELLERS, LIST NOW(!) if you are thinking about selling!
More inventory increases in the months ahead? We think so!
Inventory Breakdown:
There are no properties priced between $500,000-$600,000; there is one (1) priced between $600,000-$700,000; six (6) are between $700,000-$800,000; seven (7) between $800,000-$900,000; two (2) are priced between $900,000-$1,000,000; eleven (11) between $1-2 million; three (3) are listed for over $2 million; and one (1) is listed for over $3 million.
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Mortgage interest rates have increased again. They are now slightly over 6%. Uncertainty with the war and gas prices may impact demand. However, there are still qualified buyers looking for the right property. Timing is everything. Days on the market (DOM) are on average 74 days. Some houses sell quickly. It all depends on pricing, condition and location, location, location. The decrease in interest rates should result in increased sales activities. It is important to price the property right.
TIME TO BUY OR SELL? CALL US FOR AN EVALUATION
During the period of June 12, 2026 through June 19, 2026, there were reported 1 new listing, 2 closed sales, 4 pending sales, 2 active with contract, 0 expired listings, 1 cancelled listing, 0 temp off market, 3 price reductions, and 0 price increases.
HOW DOES YOUR HOUSE COMPARE?
The table below shows the current status of the Miami Springs/VG real estate market as of June 19, 2026. All closed sales are within the last 90 days.
*Disclaimer: The data relating to real estate displayed on this website and the chart above comes from the Miami Board of Realtors MLS. All listing information is deemed reliable but not guaranteed and can be independently verified.
A complete list of all the properties for sale in Miami Springs or any other area of Miami-Dade County can be sent to you on regular basis. Request it at: charlie@leonardrealestategroup.com
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