Despite the first-year-over-year reduction in almost two years, pending U.S. home sales still came in at the second-highest level during the past 12 months.
As of May, the Pending Home Sales Index — which is a forward-looking indicator of pending home sales that reflects contract signings — was 110.8.
Although the index, which is adjusted for seasonal variations, fell 4 percent from the prior month, it was still at the second-highest level during the last 12 months.
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From:: Financing