Pending Houses Near Me (2024)

FAQs

How long do most houses stay pending? ›

According to the National Association of Realtors®, homes are usually listed as pending for 30-60 days. Each pending home's timeline is different, but the timing could be affected by issues with things like mortgage approvals and home inspections.

Homes are listed as pending because even though they are under contract, they haven't sold yet. There's always a chance the sale could fall through – for instance, if the buyer's financing was declined.

When a listing on Zillow - or any other real estate site - is pending, the property owner/seller has accepted an offer, but the closing hasn't happened yet. During the time between offer acceptance and closing, many steps must be taken, such as a title search, home inspection, home appraisal, and obtaining a mortgage.

The Bottom Line. While you can make an offer on a pending home, consider whether it's worth your time. A backup offer on a pending home rarely turns into a sale. That's why it's best to focus on homes that haven't attracted offers.

Under contract vs. sale pending: What's the difference? While “under contract” typically means there are still contingencies left to clear, pending status usually means all contingencies have been met and the deal is on its way to closing. Pending listings are less likely to accept backup offers.

According to data compiled by the National Association of Realtors (NAR), it's estimated that about 5% of pending offers fall through. For perspective, NAR reports that about 4.71 million homes were sold in the U.S. in 2023. Based on NAR's estimate, that means roughly 247,500 home sales fell through in 2023.

Unfortunately (or fortunately, depending on which party you are in the transaction), when a sale is pending, the transaction is actually pretty close to closing. The closing date of a transaction is the date the legal ownership of the property transfers from seller to buyer and the sale is complete.

The difference is that contingent listings still need to meet one or more specific conditions before moving forward. With pending deals, conditions have been met, and both parties are planning to move forward to closing. As a buyer, you may be able to make a backup offer on a listing that's under contract.

A purple dot on Zillow means the property is available for rent. Typically, if the house or apartment is still listed on Zillow, that means it's available—but it varies.

: dependent on or conditioned by something else. Payment is contingent on fulfillment of certain conditions. a plan contingent on the weather. 2. : likely but not certain to happen : possible.

How often do contingent offers fall through? ›

Among contingent offers, less than five percent fall through, according to multiple sources. Broken offers may arise because the buyer isn't able to secure financing or because the seller isn't willing to lower their listing price after a low appraisal.

How Long Do Pending Transactions Take to Post? Although pending transactions typically post within two to three business days, they may post immediately in some cases or take up to 30 days in others. It depends on the type of transaction; when it takes place; and the merchant, bank or credit card issuer's policies.

Finding the right property for you can be the longest part of the house buying process. There are many factors that can impact the amount of time it takes for you to find a house. This can include the area you are house searching in, the type of property you are looking for, and your budget.