Pending Home Sales Surge Amid High Rates

Pending home sales surged 3.8% in May—surpassing expectations despite mortgage rates near 6.5% and inflation at a three-year high. The uptick was nationwide, led by the Northeast (8.7%) and Midwest, with gains also seen in the South and West. Buyers are proving more resilient than predicted, even as affordability remains a major barrier, limiting access to higher earners and potentially reducing inventory as sellers hold back. Summer’s true test will be how inflation and global uncertainty shape the market. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/65fc7a2891fb9872