Pending Home Sales Bounce Off Brutal Low, Still -11% From February, -5% From May Last Year

by Wolf Richter
Wolf Street

The market is facing a historic mess.

Pending sales of existing houses, condos, and co-ops in May – these are contracts that were signed in May but didn’t close in May – bounced off the brutal pandemic low in April, but remained down 10.6% from February 2020 and down 5.1% from May 2019, according to the National Association of Realtors this morning:

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