Pending home sales rose higher in May, according to the latest Pending Home Sales Index released today from the National Association of REALTORS® (NAR). Edging 0.9 percent higher than last month and 10.4 percent than a year ago, the pending sale index is at its highest level since April 2006, NAR reports. NAR Chief Economist Lawrence Yun said solid job creation and increased sales for both existing-homes and new construction homes are pointing to a strong market, but rising prices could ultimately impact affordability. Read more from NAR.
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