May Pending Home Sales: +8.2% to 88.8 vs. -0.6% expected, -11.3% prior (revised). "Absorption of...

|By:, SA News Editor
May Pending Home Sales: +8.2% to 88.8 vs. -0.6% expected, -11.3% prior (revised). "Absorption of inventory is the key to price improvement, and this solid gain in contract signings implies that home values in many localities are or will soon be stabilizing as inventories get absorbed at a faster pace," NAR's Lawrence Yun says.