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19.05.26 - 17:30
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"Cautious Optimism": US Pending Home Sales Rise For 3rd Straight Month In April (ZeroHedge)
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"Cautious Optimism": US Pending Home Sales Rise For 3rd Straight Month In April
Pending home sales were expected to rise for the third straight month in April (after crashing to record lows to end last year) as mortgage rates stabilized amid war worries, and they did, rising 1.4% MoM (better than the 1.0% expected) with March's gains revised higher too.
Source: Bloomberg
This left pending home sales up 3.35% YoY - the best annual gain since Nov 2024 - lifting the index off record lows...
Source: Bloomberg
The report suggests the housing market was finding some footing entering the busiest selling season of the year, helped by gradually improving affordability since mid-2025.
“Buyers are coming out with cautious optimism despite increasing economic uncertainty and a slight rise in mortgage rates,” NAR Chief Economist Lawrence Yun said in a statement.
That said, lower-income prospective buyers remain challenged by high mortgage rates and elevated asking prices.
There has been a no...
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