Dave Sloan

Senior Economist

North America

<p>Pending home sales are showing some hints of stabilization after hitting a record low in January, which is consistent with little change being seen from existing home sales in both April and May.</p><figure class="image"><img src="https://assets.continuumeconomics.com/storage/uploads/685d544e119b5.jpg" style="width:100%;"></figure>


Pending home sales with a 6.3% April decline have more than fully reversed a 5.5% March increase (revised lower from 6.1%) to resume a picture of underlying weakness. Recent gains in mortgage rates in response to rising UST yields may have contributed to the drop.

U.S. May Pending Home Sales - Hints of stabilization at a low level

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