BUSINESS
U.S. pending home sales jump a record 44.3% in May
BUSINESS

U.S. pending home sales jump a record 44.3% in May

Published: June 29, 2020  |  1 min read, 233 words
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WASHINGTON (Reuters) - Contracts to buy U.S. previously owned homes rebounded by the most on record in May, suggesting the housing market was starting to turn around after being hammered by the COVID-19 pandemic along with the rest of the economy.The National Association of Realtors said on Monday its Pending Home Sales Index, based on contracts signed last month, surged 44.3% last month, the largest increase since the series started in 2001, to 99.6.Still, contracts remained below their level of 111.4 in February before nonessential businesses were shuttered in a bid to slow the spread of... READ MORE
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