The amount of pending homes for sale increased 5.3% in June, hitting an index of 89, from a previous level of 84.5 in May, on the National Association of Realtors´ Pending Home Sales Index. This figure is still 12.3% less then the level reached in June 2007, where it had been at 101.4. There had been a jump in the numbers in April, but it hit a skid in May. Homes set at pending are only contacted for the index about a month or two before the closing contact is signed.

Each part of the U.S. showed an increase for June. The South coast went up 9.3%, the Northeast by 3.4%, and the Midwest by 1.3%. The West coast went up 4.6% due to a jump in the California market. Patricia Newport, an economist with Global Insight, said that "You're seeing some sort of rebound in California. Not only are sales picking up, but permit numbers are leveling off, meaning we may see a bottom for housing starts in the west,".

The problem is that while the numbers have increased, it is not an overall good sign. Many of the pending homes are foreclosed properties that are being sold at a huge discount by lenders. A real estate analyst with Weiss Research, Mike Larson, commented on this, saying "It's bad news if you're a regular home seller because you're competing against institutions that are willing to undercut you - in some cases, by a large margin,".

There is hope that there will be a increased stimulation in home sales for 2009 due to the government´s housing stimulus bill. NAR chief economist Lawrence Yun, expects that "With a tax credit now available to first-time home buyers, increases in home sales could be sustained with the momentum carrying into 2009,". NAR has raised their home sales outlook for 2009 by 7%, now expecting 5.51 million in sales in comparison to the 5.15 for this year. They also believe home prices will go up by 4.4% in 2009, reaching $215,800.