Pending Home Sales Increase

Signed contracts to buy existing homes increased 6.1 percent in May (from April), as home prices began to ease slightly, according to the National Association of Realtors (NAR). This is the largest monthly gain since April 2010. However, NAR’s Pending Home Sales Index is still down 5.2 percent from May of 2013.”Sales should exceed an annual pace of five million homes in some of the upcoming months behind favorable mortgage rates, more inventory and improved job creation,” said Lawrence Yun, NAR’s lead economist. “However, second-half sales growth won’t be enough to compensate for the sluggish first quarter and will likely fall below last year’s total.”

Pending Home Sales Increase

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