Pending home sales in the US fell in May

June 27, 2024 Tóth Balázs
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Pending home sales fell 2.1% in May, according to the National Association of REALTORS®. The number of transactions declined month-over-month in the Midwest and South, while the Northeast and West showed increases. On a year-over-year basis, all regions of the US recorded declines. The pending home sales index (PHSI), which forecasts home sales based on contract signings, fell to 70.8 in May. On an annual basis, the number of pending transactions fell 6.6%. The index of 100 represents the level of contracting activity in 2001.
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