September Pending Home Sales Due Oct. 20: How to Read the Pipeline
The National Association of Realtors will release Pending Home Sales for September 2026 at 10 a.m. Eastern on Tuesday, October 20, 2026. NAR
Pending home sales tracks signed contracts. It rose 0.3% from July to August, according to NAR. Existing-home sales tracks completed closings. Those rose 1.5% in September 2026. The September closings figure was published before the September pending release.
On seller traffic, 19% of NAR members expect an increase, according to National Mortgage Professional. That is unchanged from last month and down from 20% in September 2024.
The forward calendar is fixed. Existing-Home Sales for October 2026 will be released at 10:00 a.m. Eastern on Thursday, November 12, 2026, according to NAR. NAR's 2026 schedule lists the October Pending Home Sales Index for Wednesday, November 18, and November Existing-Home Sales for Wednesday, December 9. NAR 2026 Schedule
The broader context here is sequencing. Think of pending as the front of the line and closings as the end. September pending captures contracts signed in September. September closings reflect earlier signings, after fall-throughs, extensions and closing lags. Timing matters. For forecasters, the value is triangulation. A soft or firm pending print does not revise September closings. It resets the starting pipeline for October and November closings.
In my view, the August baseline limits what we can read in. A 0.3% monthly move is small against normal revision and seasonal-adjustment noise, so it gives little direction into September. The 1.5% September closings gain is larger, but the two rates are not directly comparable. They cover different stages, with different seasonal factors and sample timing. Treat them as adjacent evidence, not confirmation of each other.
Looking at practical use, focus on levels, revisions and composition rather than one headline percent change. Watch whether September pending holds, reverses or extends the August path. Cross-check with flat seller expectations. Stable at 19%, unchanged from last month and below last year's 20%, it shows no broadening listing-side momentum into the release. That does not predict contracts. It frames how much weight to give supply-side explanations if pending surprises in either direction.
On process, use the October 20 release as input for the November 12 closings print, then update again when October pending arrives November 18. Keep vintages aligned. Do not mix September contracts with September closings in the same run rate.
