Tajuk : Here come pending home sales …
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Here come pending home sales …
Larry Downing/Reuters
The National Association of Realtors will publish its monthly report on pending home sales at 10: a.m. ET.
Economists forecast that pending sales of condos, coops, and single-family homes rose 0.5% in April from the prior month, according to Bloomberg. Pending sales are based on signed contracts that have not yet closed, so they are a leading indicator of future sales.
Last month, the NAR said the stock market’s rise and the expectation that interest rates would rise was spurring “significant interest” in homebuying. Housing supply — especially in the more affordable lower-to-mid price range — was not keeping up with the level of demand as the market entered the busy spring season, the NAR said.
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
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