Pending Sales of U.S. Homes Climbed More Than Forecast
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More Americans than forecast signed contracts to purchase previously owned homes in May, indicating the real estate industry is firming three years after the start of the economic recovery.
The index of pending home resales climbed 5.9 percent to 101.1, matching a two-year high reached in March, after a 5.5 percent decline in April, figures from the National Association of Realtors showed today in Washington. The median forecast of 39 economists surveyed by Bloomberg News called for a 1.5 percent gain in May.