May 2020 Pending-Home Sales

Pending Home Sales on the Rise

Pending home sales for May are showing a lot of promise to a promising comeback from the Coronavirus Pandemic. Each of the major regions all recorded increases from previous months pending home sales.

 

The index rose 44.3% from 69.0 in April to 99.6 in March. The NAR news release stated, “chronicling the highest month-over-month gain in the index since NAR started this series in January 2001. Furthermore, NAR’s chief economist explained, “this has been a spectacular recovery for contract signings and goes to show the resiliency of American consumers and their evergreen desire for homeownership”. Projecting a “bounce back” and a “broader economic recovery.”

 

To read the original NAR article, click here.

 

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Copyright ©2020 “Pending Home Sales Notch Record-Setting 44.3% Monthly Increase in May” NATIONAL ASSOCIATION OF REALTORS®. All rights reserved. Reprinted with permission. July 8, 2020, https://www.nar.realtor/newsroom/pending-home-sales-notch-record-setting-44-3-monthly-increase-in-may

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