Pending Home Sales Slide, but Sacramento Housing Market Keeps Calm

Published on May 30, 2025

Hey there, California homebuyers and sellers! If you're here for housing market updates mixed with a healthy dose of humor, you've landed in the right place. Grab your favorite beverage, sit back, and let’s talk about the latest from the world of pending home sales. Spoiler alert: Sales slipped a bit—but let's not call it a crisis. It’s more like stepping on a Lego in the dark—painful, yes, but hardly disastrous.

What’s Happening with Pending Home Sales Anyway?

According to the latest data from the National Association of Realtors (NAR), pending home sales across the country took a tumble in April—down 6.3%, which sounds dramatic. Think of this as the market having a "case of the Mondays" on a Friday. Yes, it's a notable decline, but nothing we haven’t seen before, especially with mortgage rates floating around the 7% mark like a stubborn beach ball refusing to land.

Here's a quick look at the numbers for all you stat-lovers out there:

• Northeast: -3.5% (probably distracted by deciding between lobster rolls and clam chowder)

• Midwest: -8.7% (ouch, someone definitely slipped on ice!)

• South: -7.6% (taking sweet tea breaks apparently)

• West: -2.4% (we Californians prefer gentle waves to big crashes anyway)

And the year-over-year picture?

• Northeast: -3.1% (blame those winters)

• Midwest: +1.4% (Midwest for the win!)

• South: -4.4% (still recovering from sweet tea overload)

• West: -7.3% (okay, West Coast, now you're just being dramatic)

California Homebuyers Playing the Waiting Game

Now, let’s zoom in on the Golden State—because, let’s face it, that's the star of our show. California buyers and sellers have been dealing with these higher mortgage rates like true champions—by patiently sitting on the sidelines and waiting for better news. It’s like everyone’s waiting for a price drop on avocados before making their famous guacamole—understandable and wise, but slightly frustrating if you’re hungry.

California, after all, represents roughly 20% of the nation’s mortgage activity, so when we pause, everyone notices. However, it’s important to realize that this isn’t panic mode; it's strategic patience. Buyers are simply waiting for more favorable conditions—like mortgage rates easing off their caffeine-like highs.

Mortgage Rates: The Stubborn Gatekeepers of Home Sales

As our pal Lawrence Yun, Chief Economist at NAR, puts it bluntly: “There are job additions and income gains, but consumers are hesitant to move without meaningful rate relief.” Translation: Buyers want a break, and not the kind you take after binge-watching Netflix. With rates hovering around 7%, affordability is the major sticking point.

If mortgage rates dropped meaningfully (are you listening, mortgage rates?), we'd likely see an immediate rush of buyers off the sidelines faster than Californians chasing after street tacos. Lower mortgage rates would open doors for buyers and incentivize sellers who've been reluctant to list their homes.

The Silver Linings Playbook: Opportunities Amid the Slowdown

Despite the current slump, there are still bright spots for savvy homebuyers and sellers:

• Less Competition: If you’re ready to buy, fewer active buyers means less competition for the homes you love. It’s like showing up at your favorite taco spot at off-peak hours—no lines, quicker service.

• Potential Negotiations: Sellers might be more open to negotiating, providing you the chance to secure better deals or seller concessions, especially if they've had their home listed longer than anticipated.

• Strategic Timing: Rates won't stay elevated forever. Locking in a home now could position you to refinance at a lower rate in the future. At Pacific National Lending, we’re here to help you strategize your moves like a seasoned chess player.

Staying Ahead of the Housing Market with Pacific National Lending

If you're feeling a bit lost in this fluctuating market, fear not! Here at Pacific National Lending, we thrive on helping Californians navigate the twists and turns of mortgage lending. Whether you’re eyeing FHA loans, VA loans, USDA loans, Jumbo loans, Reverse mortgages, or fixed-rate and adjustable-rate mortgages, our expert team—led by our mortgage gurus Jason, Mark, and Celeste—has you covered.

We provide clear, straightforward advice without the jargon. Honestly, the mortgage industry has enough confusing acronyms—PITI, DTI, PMI—sounds like a rap album we didn’t ask for. But don't worry, we speak your language and ensure you fully understand your options.

Quick Tips for Navigating the Current California Housing Market

1. Keep Your Finances Ready: Be prepared with your mortgage pre-approval. It gives you a competitive edge when opportunities arise.

2. Stay Informed (But Calm): Markets fluctuate. Today's slow market might be tomorrow's busy one.

3. Talk to Us: We’re always here to help you analyze market trends and figure out your next best move. And we promise we won't bite—although Mark might, but we keep him well-fed.

California Homebuyers: Ready to Make Your Move?

Sure, pending home sales might be slipping a bit, but let's face it—so do yoga mats, and that never stopped anyone from achieving their Zen. California's housing market will rebound eventually, rates will stabilize, and your perfect home will become available.

So, whether you’re ready to dive in now or prefer to wait until the rates play nice, Pacific National Lending is your trusted partner through it all. Call us today at (877) 536-3076, visit our friendly faces at 2377 Gold Meadow Way, Suite 100, or drop us an email for personalized mortgage advice.

Remember: markets move, rates fluctuate, but your dream home isn't going anywhere (unless it’s on wheels—and with USDA now allowing manufactured homes, we can finance those too!).

Until next time, California—stay informed, stay patient, and don’t step on any Legos.