USA: Pending Home Sales Jump 3.8% in May.

US pending home sales surged 3.8% month-over-month in May 2026, following a downwardly revised 0.3% rise in April and exceeding market expectations of 0.8%. This marked the steepest monthly increase since September 2024, with gains across all regions: Northeast (+8.7%), Midwest (+8.1%), South (+1.0%), and West (+0.7%). Year-over-year, pending home sales rose 4.8%. NAR Chief Economist Dr. Lawrence Yun noted that a late spring buyer rush, even with mortgage rates holding steady above 6%, signals pent-up housing demand and growing acceptance of higher rates as the new normal. “The inventory-constrained Northeast region, which has seen faster home price growth but slower home sales for several months, is now showing more buyer contract signings. More supply is needed to help moderate home price growth,” he added.