Financial News: U.S. Pending Home Sales Spike Much More Than

U.S. Pending Home Sales Spike Much More Than Expected In May

06/17/2026 - 11:16:00 (RTTNews)

(RTTNews) - A report released by the National Association of Realtors on Wednesday showed a substantial increase in pending home sales in the U.S. in the month of May.

NAR said its pending home sales spiked by 3.8 percent to 76.8 in May after rising by 0.3 percent to a downwardly revised 74.0 in April.

Economists had expected pending home sales to advance by 0.9 percent compared to the 1.4 percent jump originally reported for the previous month.

With the bigger than expected increase, the pending home sales index reached its highest level since hitting 77.2 in November 2025.

A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.

"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," said NAR Chief Economist Dr. Lawrence Yun.

"The inventory-constrained Northeast region, which has seen faster home price growth but slower home sales for several months, is now showing more buyer contract signings," he added. "More supply is needed to help moderate home price growth."

NAR said pending home sales in the Northeast and Midwest soared by 8.7 percent and 8.1 percent, respectively.

Pending home sales in the South also shot up by 1.0 percent, while pending home sales in the West climbed by 0.7 percent.

"Going forward, falling oil prices will help lower mortgage rates," Yun said. "But declines will be modest given sizable borrowing by the federal government and strong AI investment spending by tech companies."

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

New Zealand Inflation Data Due On Tuesday (32 min(s), 57 sec(s) ago)
(RTTNews) - New Zealand will on Tuesday release Q2 data for consumer prices, highlighting a light ...Full Story»

U.S. Leading Economic Index Dips Slightly More Than Expected In June (08 hr(s), 16 min(s), 57 sec(s) ago)
(RTTNews) - Partially reversing gains registered in May and April, the Conference Board released a ...Full Story»

Portugal Proucer Price Inflation Eases To 5.0% (11 hr(s), 41 min(s), 57 sec(s) ago)
(RTTNews) - Portugal's producer price inflation slowed marginally in June from a more than thr ...Full Story»

Poland Industrial Output Growth Hits 9-month High; Producer Price Inflation Eases (13 hr(s), 46 min(s), 57 sec(s) ago)
(RTTNews) - Poland's industrial production expanded at the quickest pace in nine months in Jun ...Full Story»

China Holds Loan Prime Rates As Expected (13 hr(s), 47 min(s), 57 sec(s) ago)
(RTTNews) - China maintained its loan prime rates unchanged for the fourteenth consecutive month, ...Full Story»

Estonia Producer Price Inflation Rises To 3.8% (15 hr(s), 10 min(s), 57 sec(s) ago)
(RTTNews) - Estonia's producer price inflation accelerated for the third straight month in Jun ...Full Story»

Germany Producer Prices Rise For Third Month (15 hr(s), 54 min(s), 57 sec(s) ago)
(RTTNews) - Germany's producer prices increased for the third straight month in June, data fro ...Full Story»

Malaysia Trade Surplus Grows In June (15 hr(s), 56 min(s), 57 sec(s) ago)
(RTTNews) - The Malaysian foreign trade surplus increased notably in June from a year ago as expor ...Full Story»