After reporting steep drops in U.S. pending home sales over the past several months, the National Association of Realtors released a report on Monday showing an unexpected rebound in pending home sales in the month of May.
NAR said its pending home sales index climbed 0.7 percent to 99.9 in May after plunging by 4.0 percent to a revised 99.2 in April. The increase surprised economists, who had expected pending home sales to tumbled by another 3.7 percent.
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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.