Pending Home Sales Increase Across Most U.S. Regions

On today’s Hot Sheet, Byron Lazine discussed the National Association of REALTORS® Pending Home Sales report showing pending sales rose 1.4% month over month and 3.2% year over year in April, with regional gains led by the Northeast, Midwest and West.

He also covered MBA data showing rising mortgage rates pushed total mortgage application volume down 2.3% last week while driving ARM share to nearly 10%, the highest level since October 2025.