The Pending home sales in the United States rose 4.8% monthly in June after falling 1.9% in May, according to the National Association of Realtors. This is the first rise after two consecutive months of falls. The indicator has improved on the 1.3% increase estimated by the market.
On a year-on-year basis, sales fell 2.6% after declining 6.6% the previous month.
“The increase in housing inventory is starting to generate more contract signings,” said NAR chief economist, Lawrence Yun“Multiple offers are less intense and buyers are in a more favorable position.”
Measured on a monthly basis, contract signings increased in all four U.S. regions. Compared with a year ago, pending home sales declined in the Northeast, Midwest and South, but improved in the West.
Dollar reaction
The Dollar Index (DXY) has fallen on the latest news, sliding to 103.93, its lowest level in two weeks.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
