US Pending Home Sales Surge in May

Monday, 30 Jun 2014 10:17 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

US pending home sales surged higher in May, registering the highest month-on-month gain in four years, the National Association of Realtors said Monday.

The NAR's pending home sales index jumped 6.1 percent in May to 103.9, the first time the index has topped 100 since last November.

But compared with a year ago, May pending home sales were down 5.2 percent

Pending sales of existing homes reflect contracts that are signed but not closed, indicating future activity. .

Sales rose in all regions of the country, with the Northeast and West scoring the sharpest increases.

Lawrence Yun, NAR chief economist, said home sales were expected to improve in the second half of the year as the economy improves.

"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," he said.

"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."

 

 

© AFP 2014

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Budweiser Scraps Clydesdales, Turns to Jay-Z for Holiday Ads

Monday, 24 Nov 2014 15:39 PM

In the face of declining sales, Budweiser is considering different strategies to increase consumption among younger drin . . .

Twitterverse Oozes With Anticipation of a Chuck Hagel Tell-All

Monday, 24 Nov 2014 15:23 PM

As Defense Secretary Chuck Hagel resigned Monday, political cynics were relishing the prospect of another tell-all book  . . .

Rasmussen: 1 in 2 Voters Disapprove of Obama's Amnesty Order

Monday, 24 Nov 2014 13:59 PM

A full half of American voters do not approve of President Obama's immigration executive order, and most believe the pla . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved