US pending home sales rise for first time in three months

31st Jul 2024 13:22

(Sharecast News) - US pending home sales rose in June for the first time in the last three months, according to the National Association of Realtors, driven by an improvement in supply and a slight moderation in mortgage rates.

The pending home sales index surged 4.8% month-on-month in June to 74.3, ahead of expectations for a 1.5% increase. On an annualised basis, pending home sales were down 2.6%.

Reporting by Iain Gilbert at Sharecast.com