WASHINGTON (AP) — More Americans signed contracts to purchase homes in May compared with the prior month, a sign buyers may be ready take advantage of low interest rates and stabilizing home prices.
The National Association of Realtors says that its pending home sales index rose 1.1% to a reading of 105.4.
Home sales have been slowing even with average 30-year mortgage rates slipping below 4% last month. During the first five months of the year, purchases of new homes fell 3.7% compared to the same period in 2018, although existing home sales — the bulk of the market — rebounded in May.
U.S. home price gains slowed for the 13th straight month in April.
Pending sales is a measure of home purchases that are usually completed a month or two later.
- Posted July 01, 2019
- Tweet This | Share on Facebook
Pending home sales up 1.1 percent in May
headlines Oakland County
- Counsel Connect
- Nessel files reply calling for full public hearings on DTE’s data center application
- Webinar looks at program provding protein to families involved with courts
- Michigan veterans warned of postcard scam targeting personal information
- Man sentenced for arson, ?first-degree animal torture/killing
headlines National
- Nikole Nelson champions a national model to bring legal services to those without access
- Social media and your legal career
- OJ Simpson estate accepts $58M claim by father of Ron Goldman, killed along with Nicole Brown Simpson
- Law prof who called for military action and end to Israel sues over teaching suspension
- The advantages of using an AI agent in contract review
- Courthouse rock, political talk lead to potential suspension for Elvis-loving judge
