- Pending Home Sales in the US rebounded sharply in May.
- Wall Street’s main indexes continue to trade mixed after the data.
Pending Home Sales in the US rose by 44.3% on a monthly basis in May following April’s decline of 21.8%, the data published by the US National Association of Realtors revealed on Monday. This reading came in much higher than the market expectation for an increase of 19.7%.
Further details of the publication showed that on a yearly basis, Pending Home Sales were still down 5.1%.
These figures don’t seem to be having a significant impact on market sentiment. As of writing, the Dow Jones Industrial Average was up 1.05% on the day while the Nasdaq Composite was losing 0.25%.