Here come pending home sales ...
Akin Oyedele/Business Insider
Economists forecast that pending sales fell 1.1%, according to Bloomberg, following a 5.1% jump in April to the best level in a decade.
Pending home sales are a forward-looking indicator of the housing market, as they are based on signed contracts prior to final sales.
Here's a preview from Bank of America Merrill Lynch:
"Pending home sales are likely to fall back slightly, declining 1.0% mom in May. This would be a payback from the prior three months of strong gains. Our forecast for a slight drop is largely to reflect the typical volatility in the data. We think it is prudent to smooth through the monthly swings to reveal a modest underlying upward trend in home sales."
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance