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IPFS News Link • Housing

US Pending Home Sales Unexpectedly Rise In May, NAR Warns Housing Market "Transition" Unde

• Zero Hedge - Tyler Durden

After an unexpected jump in new home sales and larger than expected drop in existing home sales, today's pending home sales print is the tie-breaker for sentiment in the housing market in May as homebuilder sentiment soured and mortgage rates and applications soared. As it turns out pending home sales unexpectedly rose 0.7% MoM in May (versus a 4.0% MoM expected drop) and with a downward revision to April from -3.9% MoM to -4.0% MoM...

Source: Bloomberg