Pending Home Sales Pours in May

By
Real Estate Agent with Abernethy Properties 273651

According to National Association of Realtors, undecided home sales increased suddenly in May, with lower mortgage rates and increased inventory escalating the market.

 

The four regions of the country saw increases in pending sales, with the Northeast and West experiencing the largest gains.

 

According to Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 6.1 percent to 103.9 in May from 97.9 in April, but still remains 5.2 percent below May 2013 (109.6). May’s 6.1 percent increase was the largest month-over-month gain since April 2010 (9.6 percent), when first-time home buyers rushed to sign purchase contracts before a popular tax credit program ended.

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