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Pending Home Sales Up 0.7% in May

Pending Home Sales Up 0.7% in May

NAR logoThe National Association of Realtors is reporting that pending home sales were up 0.7% in May, 2022.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) climbed to 99.9.  The NAR says pending home sales broke a six-month skid with this slight rise.

“Despite the small gain in pending sales from the prior month, the housing market is clearly undergoing a transition…Contract signings are down sizably from a year ago because of much higher mortgage rates.”  Said Lawrence Yun, NAR’s chief economist.

Click here to read the full report at the National Association of Realtors.


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