Pending home sales up in the U.S. during May

Pending home sales were up in every region of the country during May, reaching the highest level in two years, according to the National Association of Realtors (NAR). The report comes just days after it we reported that new home sales and closings on existing homes were up during April, suggesting that the market will continue to have momentum throughout the summer. The next big indicator of what's happening locally will be the release of the June existing home sales report from the Minneapolis Area Association of Realtors during the second week of July. In the meantime, you can read the full report from NAR by clicking here.