Pending Home Sales Jump 8.2% Higher

Sales of previously owned homes in the US rose more than expected in the prior month. There is still a large amount of homes for sale, but this is a surprise increase in May.

N.A.R (National Association of Realtors) Home Sales Index increased by 8.2%, jumping higher from the dismal numbers in April. Expert economists had expected the rise in contracts of only 3.8%.

The West showed double digit growth recently in signed sales contracts.

Source: NAR