Pending Home Sales Index Gains to 90.7 in May: NAR

Pending home sales increased 0.1% to a reading of 90.7 in May from 90.6 in April, according to an index released yesterday by the National Association of Realtors.

Thomson Reuters’ poll of economists had predicted a 90.5 reading.

Year over year, the pending homes sales index was up 6.7% from last May, when the index was at 85.0.

Regionally, pending sales were mostly higher. The Northeast saw a 3.1% increase to 80.9 in May, while sales fell 1.3% to 89.2 in the Midwest.

In the South, sales declined 1.7% to 92.6, while in the West, pending sales jumped 2.2% to 96.9.

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER