Pending home sales staged a historic rebound in May, meaning the worst may have already come for the real-estate market

Posted by Suzi Karr Realty on Monday, June 29th, 2020 at 11:22am.

Published: June 29, 2020 by Jacob Passy

Contract signings rose by the largest percentage ever between April and May

 

The numbers: After two consecutive months of decline, the index of pending home sales soared 44.3% in May as compared with April, the National Association of Realtors reported Monday.

The monthly increase was the largest ever since the National Association of Realtors started the index in January 2001. “This has been a spectacular recovery for contract signings, and goes to show the resiliency of American consumers and their evergreen desire for homeownership,” Lawrence Yun, chief economist for the National Association of Realtors, said in the report. “This bounce back also speaks to how the housing sector could lead the way for a broader economic recovery.” Read more>>

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