The National Association of Realtors says that its pending home sales index rose 1.1% to a reading of 105.4. Home sales have been slowing even with average 30-year mortgage rates slipping below 4% last month. During the first five months of the year, purchases of new homes fell 3.7% compared to the same period in 2018, although existing home sales — the bulk of the market — rebounded in May. U.S. home price gains slowed for the 13th straight month in April. Pending sales is a measure of home purchases that are usually completed a month or two later.

Source: thestar June 27, 2019 14:03 UTC