A report released by the National Association of Realtors on Wednesday showed a substantial increase in pending home sales in the U.S. in the month of May.
NAR said its pending home sales spiked by 3.8 percent to 76.8 in May after rising by 0.3 percent to a downwardly revised 74.0 in April.
Economists had expected pending home sales to advance by 0.9 percent compared to the 1.4 percent jump originally reported for the previous month.
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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.