Why is every house on the market pending?

If you're seeing a home advertisement that has a pending status, what you're seeing is a home that has an accepted offer from a buyer. This means that the seller and the buyer, through negotiations with a real estate agent, have agreed on terms that are acceptable to both parties.

Why is every house on the market pending?

If you're seeing a home advertisement that has a pending status, what you're seeing is a home that has an accepted offer from a buyer. This means that the seller and the buyer, through negotiations with a real estate agent, have agreed on terms that are acceptable to both parties. Pending sale (or “pending offer”) simply means that a buyer has submitted an offer and the seller has accepted it. In other words, this isn't the kind of situation where you can simply choose to outbid all other buyers; it's past that point.

If you expect to buy a home in case it's back on the market, the typical time frame for a pending sale is one week to 60 days. The Pending Home Sales Index (PHS), a leading indicator of real estate activity, measures housing contract activity and is based on real estate contracts signed for existing single-family homes, condominiums and cooperatives. Terms such as “under contract” and “pending” tend to imply that the home is sold and out of the market, but in reality that is not the case. You may also hear terms such as “under contract” (meaning that the contract for the sale of the house is in process) or “closing period” (referring to the weeks between an offer and the finalized sale).

In real estate, a pending sale (or “pending offer”) means that a buyer submitted an offer for a home and the seller accepted it. While this can be annoying, it's something you'll appreciate once you get the house of your dreams: you don't want to sign the documentation, get the loan and hand over the keys to your current house, and have to worry all the time that someone might keep bidding more than you. Explore other housing options in your area and make sure this is the home you want before making an offer. If the lender vetoes the sale and demands that the seller put it back on the market, you can go ahead and buy it.

Your real estate agent can get a little more information about the condition of the home and whether it is likely to be on the market again. If a home is under contract, but you're determined to make an offer, your real estate agent will explain how to buy a home under contract. It's no surprise that buyers are carefully considering all their options, and there's a term you can frequently encounter when cruise ships on sites like Zillow and Realtor are waiting for sale. In a seller's market, where sellers have the advantage, competition and multiple offers can result in sellers only opting for non-contingent offers.

Competitive market conditions can influence the likelihood of a pending sale, as can the time of year or region. Rocket Mortgage, LLC, Rocket Homes Real Estate LLC, RockLoans Marketplace LLC (operating under the name Rocket Loans) and Rocket Auto LLC are independent operating subsidiaries of Rocket Companies, Inc. Because the house hasn't been through contingencies yet, you're more likely to be able to buy a home that's under contract than one that's pending.

Noelle Fredette
Noelle Fredette

Professional zombie geek. Hipster-friendly coffee buff. Total coffee ninja. Subtly charming tv trailblazer. Hipster-friendly twitter fan. Amateur social media specialist.