Pending home sales surge 5.9% in May to 2-yr high

Want to see how this story relates to your portfolio?

Just add items to create a portfolio now:

    or Cancel
    Already have a portfolio? Log In


    By
    Steve Goldstein


    WASHINGTON (MarketWatch) — Pending home sales climbed 5.9% in May to match a two-year high, a trade group said Wednesday. The National Association of Realtors said its pending-home-sales index rose to 101.1 in May from 95.5 in April. The index is 13.3% above May 2011 levels. May marked the highest level since the scheduled expiration of the home buyer tax credit in April 2010. A sale is listed as pending when the contract has been signed but the transaction has not closed. An index of 100 is equal to the average level of contract activity during 2001.

    Read the full story:

    Pending home sales climb to two-year high in May