Pending home sales rise 0.9% in May, highest level since 2006
By Diana Olick - CNBC
A sharp jump in interest rates may have deterred some home buyers in May. Signed contracts to buy existing homes, so-called pending home sales, rose just 0.9 percent in May from April, according to the National Association of Realtors, after a downward revision to April’s reading. That is slightly lower than analysts predicted, but is still the highest level on the association’s index since April of 2006. Pending sales are now 10.4 percent higher than one year ago.