Pending home sales in May sported the biggest monthly gain since the National Association of Realtors (NAR) began keeping track. The NAR’s Pending Home Sales Index (PHSI) in May jumped 44.3 percent over the April level. That doesn’t mean activity is back to usual levels – May pending home sales were still about 5 percent below their May 2019 level. “The outlook has significantly improved, as new home sales are expected to be higher this
source https://therealdeal.com/2020/07/01/trd-insights-what-a-record-month-for-contracts-says-about-the-us-housing-market/
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