The housing market showed early signs of a comeback last month after coronavirus shutdowns dampened sale activity earlier in the year.
An index measuring homes in contract to sell, or pending sales, jumped by a record 44% in May, according to the National Association of Realtors. This follows two months of steep declines.More from Success IBM's chief medical officer: We won't rush to bring people backCan Corporate America really change?
The spike in May was the highest monthly gain since NAR began tracking in 2001, and it was an indication that demand for homes remains strong, the association said."This has been a spectacular recovery for contract signings, and goes to show the resiliency of American consumers and their evergreen desire for homeownership," said Lawrence Yun, NAR's chief economist."This bounce back also speaks to how the housing sector could lead the way for a broader economic recovery.
Not in the big cities around the country value is going to crash! upstanding People will be now flee to the suburbs and the Cities will economically deteriorate pretty rapidly. Unemployment for blacks will go higher not lower due to their presence in these big cities. BLM suicide
Wishful thinking. Foreclosures are coming Wednesday.
Selling off before the crash.