21:45 - 17.06.2026
June 17, Fineko/abc.az. Contract signings for US existing homes experienced their sharpest acceleration in nearly two years in May, indicating a resilient turnaround in the housing sector. According to data released Wednesday by the National Association of Realtors (NAR), pending home sales climbed 3.8% month-over-month, vastly outperforming the 0.9% growth projected in Bloomberg's consensus poll.
According to ABC.AZ, this follows a revised 0.3% uptick in the prior month and marks the fourth consecutive monthly expansion. The bounce pushed the Pending Home Sales Index (PHSI) to 76.8, its highest reading since last November.
Core Economic Highlights:
The "New Normal" Interest Rate Environment: Commenting on the report, NAR Chief Economist Dr. Lawrence Yun highlighted a structural psychological shift among homebuyers: "A late spring buyer rush—even with mortgage rates not budging—is an indication of pent-up housing demand and consumers' acceptance of above-6% mortgage rates as the new normal."
Regional Breakdown & Annual Trajectory: The momentum was broad-based across all major US corridors. Monthly contract activity was driven primarily by spikes in the Northeast (+8.7%) and the Midwest (+8.1%), while the South (+1.0%) and West (+0.7%) logged moderate gains. On an annual basis, nationwide pending sales advanced 4.8% compared to May of last year.
