US Pending Home Sales Decline in May, but Housing Market Shows Signs of Recovery
TL;DR Summary
Pending home sales in the US decreased by 2.7% in May compared to the previous month, with year-over-year declines in all four regions, according to the National Association of REALTORS. The Northeast saw a surge in sales, while the Midwest, South, and West regions experienced losses. The lack of housing inventory continues to hinder housing demand, and NAR Chief Economist Lawrence Yun suggests boosting existing-home inventory with temporary tax incentive measures.
Topics:business#housing-market#inventory-shortage#national-association-of-realtors#pending-home-sales#real-estate#tax-incentives
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