In May Housing Sales Peaked in the USA!

In May Housing Sales Peaked in the USA!

Pending home sales in the United States (US) rose 44.3 percent in May and climbed to the top of its history. Housing sales jumped in May, according to data released by the National Association of Realtors (NAR). According to published data, pending home sales in the US recorded the highest increase for the first time since January 2001, with an increase of 44.3 percent. The new type of coronavirus (Covid-19) pandemic, which adversely affected the USA, caused a decrease in house sales as of March. On the other hand, the market expectation for data that started to improve in May was 18.9 percent increase in the mentioned period. Pending housing sales were 20.8 percent in March due to the Coronavirus (Covid-19) pandemic; In April, it decreased by 21.8 percent. Pending home sales in the US decreased by 5.1 percent year-on-year in May. NAR Chief Economist Lawrence Yun said that the views of the National Association of Realtors (NAR) include an 'extraordinary' recovery in the aforementioned house sales. Pointing out that the outlook for the housing market has improved significantly, Yun said that new home sales are expected to be higher than the previous year, while second-hand home sales are expected to drop by less than 10 percent.