Biggest jump in pending home sales in four years


May's NAR Pending Home Sales Index of 103.9 is up 6.1% from April. but 5.2% below the level of a year ago. The 6.1% sequential increase is the fastest gain since April 2010 when it jumped 9.6% ahead of the expiration of a tax credit program.

The NAR's Larry Yun expects a quickening pace of sales in H2, but not enough to offset the sluggish first half of the year, with affordability and access to credit remaining key issues.

ITB +0.9%, XHB +0.8%

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Comments (6)
  • SharkDude
    , contributor
    Comments (763) | Send Message
     
    So quick. Go out and buy even more AAPL, NFLX, and CMG. Oh yeah. TSLA too.
    30 Jun 2014, 10:28 AM Reply Like
  • therealevan
    , contributor
    Comments (241) | Send Message
     
    dont forget microsoft..
    30 Jun 2014, 03:22 PM Reply Like
  • psychological-dividends
    , contributor
    Comments (820) | Send Message
     
    Sold my condo. I'm a data point.
    30 Jun 2014, 03:23 PM Reply Like
  • jstratt
    , contributor
    Comments (3928) | Send Message
     
    With new low Mortgage rates and programs for low money down it would be foolish to bet against a housing surge.

     

    It is probably not a coincidence that it is an election year.
    30 Jun 2014, 07:37 PM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (13369) | Send Message
     
    This reminds me of the last crash. Pump up the housing market with easy credit low interest loans that all fall on the public so banks can get rid of their inventory before a crash so they can but it all back with government TBTF bailout money. Really? Don't you think the American public will notice this is the same trick as last time? How long will the US public support this sellout of the majority to special interests?
    1 Jul 2014, 02:11 AM Reply Like
  • june1234
    , contributor
    Comments (4340) | Send Message
     
    Despite record low rates they are building and selling less than 1/2 the number homes they were in 06, when they were bout 18 million fewer people around than today
    1 Jul 2014, 06:13 AM Reply Like
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