Market news
29.07.2020, 14:16

U.S. pending home sales surge 16.6% in June

The National Association of Realtors (NAR) announced on Wednesday its seasonally adjusted pending home sales index (PHSI) climbed 16.6 percent m-o-m to 116.1 in June, after an unrevised 44.3 percent m-o-m jump in May.

Economists had expected pending home sales to jump 15.0 percent m-o-m in June.

On y-o-y basis, the index rose 6.3 percent after a 5.1 percent decline in May.

According to the report, all regional indices recorded m-o-m gains in May. The Northeast PHSI climbed 54.4 percent m-o-m to 95.4 in June, but was still down 0.9 percent from a year ago. In the Midwest, the index surged 12.2 percent m-o-m to 110.9 last month, up 5.1 percent from June 2019. Pending home sales in the South jumped 11.9 percent m-o-m to an index of 140.3 in June, up 10.3 percent from June 2019. The index in the West grew 11.6 percent m-o-m in June to 99.6, up 4.7 percent from a year ago.

“It is quite surprising and remarkable that, in the midst of a global pandemic, contract activity for home purchases is higher compared to one year ago,” noted Lawrence Yun, NAR’s chief economist. “Consumers are taking advantage of record-low mortgage rates resulting from the Federal Reserve’s maximum liquidity monetary policy.”

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location