Pending Home Sales See Surprise Rebound In May, But Experts Warn Housing Market Is ‘Undergoing A Transition’

Topline A leading indicator for housing market activity—pending home sales—unexpectedly jumped in May and reversed six straight months of declines, to new data from the National Association of Realtors on Monday, though experts warn that higher mortgage rates will continue to weigh on demand . Sales were still down “sizably” from a year ago as … Read more