{"id":310720,"date":"2026-06-17T18:15:10","date_gmt":"2026-06-17T18:15:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/310720\/"},"modified":"2026-06-17T18:15:10","modified_gmt":"2026-06-17T18:15:10","slug":"nar-miami-ranks-no-4-nationally-for-pending-home-sales-in-may","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/310720\/","title":{"rendered":"NAR: Miami ranks No. 4 nationally for pending home sales in May"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\" wp-image-61074 alignleft\" src=\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/06\/pendingsalesmay2026.png\" alt=\"\" width=\"353\" height=\"539\"\/>Pending home sales blew past expectations in May as buyers\u00a0come to\u00a0accept the \u201cnew normal\u201d of mortgage rates above 6%, the National Association of REALTORS\u00ae said in its\u00a0<a class=\"Hyperlink SCXW203310858 BCX0\" href=\"https:\/\/www.nar.realtor\/newsroom\/nar-pending-home-sales-report-shows-3-8-increase-in-may\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Pending Home Sales report<\/a>.\u00a0<\/p>\n<p>The pace of contract signings jumped 3.8% month over month \u2014\u00a0almost four times the 1% increase analysts were expecting. Year over year, pending sales were up 4.8%. The pace of pending sales was notable in the Miami metro, where it jumped 11.4% month over month, ranking it No. 4 in the nation for monthly increase.<\/p>\n<p>\u201cA late spring buyer rush \u2014 even with mortgage rates not budging \u2014 is an indication of pent-up housing demand and\u00a0consumers\u2019\u00a0acceptance of above-6% mortgage rates as the new normal,\u201d said NAR Chief Economist Lawrence Yun.\u00a0\u201cGoing forward, falling oil prices will help lower mortgage rates, but declines will be modest given sizable borrowing by the federal government and strong AI investment spending by tech companies.\u201d\u00a0<\/p>\n<p>Regionally, pending sales were up month over month and\u00a0year over year\u00a0across the board, with the biggest gains occurring in the Northeast and Midwest.\u00a0<\/p>\n<p>\u201cWhat makes the recent improvement particularly noteworthy is that it has occurred despite mortgage rates moving higher through much of the spring,\u201d First American Deputy Chief Economist Odeta Kushi said. \u201cUnder normal circumstances, higher financing costs would be expected to dampen\u00a0buyer\u00a0demand. Instead, many households appear willing to move forward with purchases as inventory improves and the reality of higher-for-longer mortgage rates becomes more widely accepted.\u201d\u00a0<\/p>\n<p>On the local level, several metros had a particularly robust month\u00a0of contract signings:\u00a0<\/p>\n<p>Kansas City, Missouri (+20.1%)\u00a0<br \/>\nSan Antonio-New Braunfels (+15.7%)\u00a0<br \/>\nMinneapolis-St. Paul-Bloomington (+13.9%)\u00a0<br \/>\nMiami-Fort Lauderdale-West Palm Beach (+11.4%)\u00a0<br \/>\nLouisville\/Jefferson County, Kentucky (+11.2%)\u00a0<br \/>\nCincinnati (+10.1%)\u00a0<br \/>\nNashville-Davidson-Murfreesboro-Franklin, Tennessee (+9.4%)\u00a0<br \/>\nMilwaukee-Waukesha (+8.7%)\u00a0<br \/>\nVirginia Beach-Chesapeake-Norfolk, Virginia (+8.2%)\u00a0<br \/>\nRichmond, Virginia (+8.2%)\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Pending home sales blew past expectations in May as buyers\u00a0come to\u00a0accept the \u201cnew normal\u201d of mortgage rates above&hellip;\n","protected":false},"author":2,"featured_media":310721,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[225,227,226,10692,10735,118185,841,65536,41094,129549,65537,33847],"class_list":["post-310720","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hialeah","tag-hialeah","tag-hialeah-headlines","tag-hialeah-news","tag-home-sales","tag-interest-rates","tag-lawrence-yun","tag-mortgage-rates","tag-nar","tag-national-association-of-realtors","tag-odeta-kushi","tag-pending-home-sales","tag-sc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/310720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=310720"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/310720\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/310721"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=310720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=310720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=310720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}