• U.S. pending home sales increase slightly more than forecast in May

Noticias del mercado

27 junio 2019

U.S. pending home sales increase slightly more than forecast in May

The National Association of Realtors (NAR) announced on Thursday its seasonally adjusted pending home sales index (PHSI) rose 1.1 percent m-o-m to 105.4 in May, up from 104.3 in April.

Economists had expected pending home sales to rise 1.0 percent m-o-m in May.

On y-o-y basis, the index dropped 0.7 percent. That was the 17th consecutive month of annual declines.

According to the report, the pending home sales rose in three of the four regions in m-o-m terms but fell in all regions compared to May 2018. Pending home sales in the South inched up 0.1 percent m-o-m to an index of 124.1 in May, which is 0.7 percent higher than last May. The PHSI in the Northeast climbed 3.5 percent m-o-m to 92.0 in May and is now 0.5 percent below a year ago. The index in the Midwest surged 3.6 percent m-o-m to 100.3 in May, 1.2 percent lower than May 2018. Meanwhile, the index in the West fell 1.8 percent m-o-m in May to 91.8 and dropped 3.1 percent below a year ago.

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