South Florida Pending Home Sales Jump 9.8% in March – What Miami Buyers & Sellers Need to Know

by Julio N. Suarez, PA

What Is the Pending Home Sales Index (PHSI)?

The Pending Home Sales Index (PHSI) is a forward-looking gauge of housing-market activity based on signed contracts for existing homes. Because a contract is typically finalized within one to two months, the PHSI offers an early snapshot of transactions that will soon close. An index value of 100 represents contract activity in 2001; values above or below reflect higher or lower activity, respectively.

National Trends in March 2025

Overall Increase: In March, the PHSI rose 6.1% month-over-month, marking the strongest gain since December 2023.
Mortgage Rates: Average rates dipped to 6.65% in March, down from 6.96% in January, fueling renewed buyer interest.
Seasonal Surge: Non-seasonally adjusted data show contract signings jumped 34.1% from February, reflecting typical springtime market momentum.

Why South Florida Leads the Pack

Among the four U.S. regions, the South saw the largest monthly uptick:

Region	March PHSI	MoM Change	YoY Change
South	94.1	+9.8%	–0.4%
Midwest	77.7	+4.9%	+1.4%
West	58.6	+4.8%	–2.0%
Northeast	62.5	–0.5%	–3.0%

South Florida, with its mix of urban centers and suburban communities, played a key role in that 9.8% surge.

What This Means for South Florida Buyers

More Options Incoming
- A rising PHSI signals a backlog of contracts, so more homes will close and enter the market soon.
- Act now to secure financing and lock in rates before any further upticks.
Mortgage-Rate Sensitivity
- Even small rate drops can spur buyer activity.
- Talk to local lenders about rate-lock strategies to protect against volatility.
Embrace Local Expertise
- Neighborhoods like Miami, Coral Gables, and Pinecrest each have unique micro-markets.
- Lean on The Suarez Team’s hyper-local knowledge to target the right communities for your budget.

What This Means for South Florida Sellers

Strategic Pricing Is Critical
- With inventory up 8.1% in March, competitively priced to stand out and attract qualified buyers.
Spring Market Window
- March through May traditionally yields higher buyer turnout; capitalize on this seasonal demand.
Prepare to Close
- Faster contract signings mean you’ll move from “pending” to “sold” in weeks.
- Ensure inspections, appraisals, and financing contingencies are managed proactively.

Actionable Tips for Navigating Today’s Market

For Buyers	For Sellers
Get pre-approved before touring homes	Complete staging and professional photos early
Consider adjustable-rate mortgages if rates drop	Offer flexible closing dates
Shrink your search radius by community “hotspots”	Highlight energy-efficient upgrades
Work with a lender who monitors local rate shifts	Offer a credit toward buyers’ closing costs

How The Suarez Team at LPT Realty Can Help

Home Search: Browse the latest listings in Miami, Homestead, Kendall & more → Search Homes
Home Valuation: Find out what your property could sell for in today’s market → Get a Free Valuation
Seller Consultation: Learn how to price, market, and negotiate for top dollar → Schedule Your Consultation
Buyer Consultation: Receive personalized guidance on financing options and neighborhoods → Book a Buyer Appointment
Cash Offer Program: Get a competitive all-cash offer with no listing hassles → Learn About Cash Offers

Looking Ahead

Pending home-sale figures suggest momentum in South Florida’s spring market, both for buyers eager to lock in favorable rates and sellers seeking fast, confident transactions. Whether you’re upsizing in Pinecrest or downsizing in Doral, The Suarez Team brings South Florida expertise to every stage of your real estate journey.