Pending home sales in the U.S. rose by much more than anticipated in the month of March, according to a report released by the National Association of Realtors on Thursday.
NAR said its pending home sales index rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February. Economists had expected a much more modest 1.0 percent increase.
A pending sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.