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Pending Home Sales Up in May, Continue Pattern of Strong Annual Gains

by Michael Levy on June 27, 2012

in National, NEWS

For Sale PhotoPending home sales bounced back in May, matching the highest level in the past two years, and are well above year-ago levels, according to the National Association of REALTORS®. Both monthly and annual gains were seen in every region.

Lawrence Yun, NAR chief economist, said longer term comparisons are more relevant. “The housing market is clearly superior this year compared with the past four years. The latest increase in home contract signings marks 13 consecutive months of year-over-year gains,” he said. “Actual closings for existing-home sales have been notably higher since the beginning of the year, and we’re on track to see a 9 to 10 percent improvement in total sales for 2012.”

To read the full article, click here: Realtor Mag

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