These terms are not one in the same, and they change depending on the area you are in. In the Colorado Springs area, the terms are often used interchangeably but they shouldn't be.

Pending, in our opinion, is when a home is under contract but with no more contingencies needing to be met to close. It also means no more showings on the property. You could refer to a property in Pending status as a property that is in the final stretch to closing.

Under Contract, in our opinion, is a property that has an accepted offer with contingencies still in place. It's by no means locked in for a closing. When a property is Under Contract it should still be open for showings.

There are other major drawbacks to using these incorrectly, however that's something we do keep to ourselves because it provides a distinct advantage to our clients. We know Realtors read our posts to learn, and that's fine. To reveal things that give us an advantage doesn't exactly help to keep that advantage.