Pending Home Sales Hit Record 44.3% Spike In May

Photo credit: Getty Images/Paul Bradbury

According to the National Association of Realtors, pending home sales mounted a record comeback in May, seeing encouraging contract activity after two previous months of declines brought on by COVID-19.

According to the National Association of Realtors, pending home sales mounted a record comeback in May, seeing encouraging contract activity after two previous months of declines brought on by COVID-19. Every major region recorded an increase in month-over-month pending home sales transactions, while the South also experienced a year-over-year increase in pending transactions.

The Pending Home Sales Index (PHSI) rose 44.3% to 99.6 in May, marking the highest month-over-month gain in the index since the Realtors' association began the series in January 2001. Year-over-year, contract signings fell 5.1%. A PHSI reading of 100 is equal to the level of contract activity in 2001.

Click here to read more about record home sales in May.

This article originally appeared in the National Mortgage Professional print magazine.

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Written by 
Eric C. Peck
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Pending Home Sales Hit Record 44.3% Spike In May
Trends

Pending Home Sales Hit Record 44.3% Spike In May

June 30, 2020
by
Eric C. Peck

According to the National Association of Realtors, pending home sales mounted a record comeback in May, seeing encouraging contract activity after two previous months of declines brought on by COVID-19. Every major region recorded an increase in month-over-month pending home sales transactions, while the South also experienced a year-over-year increase in pending transactions.

The Pending Home Sales Index (PHSI) rose 44.3% to 99.6 in May, marking the highest month-over-month gain in the index since the Realtors' association began the series in January 2001. Year-over-year, contract signings fell 5.1%. A PHSI reading of 100 is equal to the level of contract activity in 2001.

Click here to read more about record home sales in May.

Written by 
Eric C. Peck

Eric C. Peck is senior editor of National Mortgage Professional magazine and editor-in-chief of the National Mortgage Professional Magazine website.

ericp@ambizmedia.com

These articles are powered by National Mortgage Professional

Pending Home Sales Hit Record 44.3% Spike In May
June 30, 2020 9:10 AM
by
Eric C. Peck
Trends

According to the National Association of Realtors, pending home sales mounted a record comeback in May, seeing encouraging contract activity after two previous months of declines brought on by COVID-19. Every major region recorded an increase in month-over-month pending home sales transactions, while the South also experienced a year-over-year increase in pending transactions.

The Pending Home Sales Index (PHSI) rose 44.3% to 99.6 in May, marking the highest month-over-month gain in the index since the Realtors' association began the series in January 2001. Year-over-year, contract signings fell 5.1%. A PHSI reading of 100 is equal to the level of contract activity in 2001.

Click here to read more about record home sales in May.

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