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Fundamental Forex Analysis

Pending Home Sales surge by 44.3% in May vs. 19.7% expected

  • 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%.

Market reaction

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%.

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