U. S. pending home sales climb
More Americans signed contracts to buy homes in May, as pending sales climbed to their highest level in more than nine years.
The National Assn. of Realtors said its seasonally adjusted pending home sales index rose 0.9% to 112.6 last month. The index has increased 10.4% over the past 12 months, putting it just below the April 2006 level — which was more than a year before the housing bust triggered the Great Recession.
Pending sales increased in the higher- priced Northeast and West markets last month, while dipping in the Midwest and South.