Pending Home Sales Tumble in May for Third Straight Month

WASHINGTON (June 28, 2017) — The ongoing supply shortages that are propping up home prices in many metro areas caused pending home sales in May to slump for the third consecutive month, according to the National Association of Realtors®. None of the major regions saw an increase in contract activity last month.

The Pending Home Sales Index,* www.nar.realtor/topics/pending-home-sales, a forward-looking indicator based on contract signings, decreased 0.8 percent to 108.5 in May from a downwardly revised… Read More