Pending Home Sales Surge Higher, but Economists Warn That the Housing Market Could ‘Soon Hit Bottom’
The numbers: More Americans signed on the dotted line to buy a home last month, but the factors that have tested the nation’s housing market are likely to eat into sales in the months to come. Pending home sales rose 8% in May compared with April, the National Association of Realtors reported Wednesday. Economists polled by MarketWatch had projected a 1% decrease for pending home sales in...