06/18/2026
According to the National Association of REALTORS®, pending home sales increased 3.8% in May and were up 4.8% year-over-year. 📈
What’s driving the increase? NAR Chief Economist Dr. Lawrence Yun explains, “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.”
In the South, pending home sales rose 1.0% and 3.3% year-over-year, reflecting continued market activity across the region. We're seeing that same interest here in St. Augustine, where buyers continue to be drawn to our coastal lifestyle, historic charm, and growing communities. As more buyers enter the market, well-priced homes are attracting attention and selling quickly.
If you're considering buying in St. Augustine or simply want to see what's available, browse our current listings at thegachetlongteam.com. We'd be happy to help you explore your options.
View the full report at www.nar.realtor 🔗