Biggest jump in pending home sales in four years

|By:, SA News Editor

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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