Pending-sales figures point to sustained U.S. housing recovery

06/27/2013 | Bloomberg

Another indicator for the key U.S. housing market surged in May, with pending sales of existing homes exceeding all forecasts with a rise of 6.7%. The figures from the National Association of Realtors suggests that "even with limited choices ... some of the rise in contract signings could be from buyers wanting to take advantage of current affordability conditions before mortgage interest rates move higher," said the group's chief economist, Lawrence Yun.

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