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US pending home sales top forecasts, at highest since 2005
Still, unemployment remains elevated and income uncertainty could slow demand for residential real estate
Add BT as a preferred sourcePublished Fri, Aug 28, 2020 · 09:50 PM
Washington
US pending home sales rose in July by more than forecast to the highest level since 2005, signalling the housing market's sharp recovery will continue with borrowing costs to stay low for the foreseeable future.
The National Association of Realtors' (NAR) index of contract signings to purchase previously owned homes increased 5.9 per cent from the prior month after a 15.8 per cent jump in June, according to data released Thursday.
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