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NAR: Pending Home Sales Soar 44.3% in May

NAR: Pending Home Sales Soar 44.3% in May: The increase broke all records since NAR started tracking the sales. At May’s 99.6, the pending sales level was about equal to those in 2001. NAR’s economist calls it a “spectacular recovery for contract signings” and shows “the resiliency of American consumers.”

New Home Sales Rise Surprisingly Strong 16.6% in May

New Home Sales Rise Surprisingly Strong 16.6% in May: The seasonally adjusted annual rate was higher than analysts expected – many economists predicted a decline. It was also 12.7% higher compared to year-ago numbers.