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U.S. Pending Home Sales Surge in May

M. Ali 30 June, 2021 7:17 pm Market Update

U.S. pending home sales increased last month to its highest level since 2005, data showed on Wednesday.

The Pending Home Sales Index rose by 8.0% in May to 114.7, according to data by the National Association of Realtors.

The surge in the gauge of contracts signed last month came against market expectations, with a recent Reuters poll forecasting pending home sales would decrease by 0.8%.

On an annual level, pending home sales grew by 13.1%.

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