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Housing Industry Sees Significant Jump

A new report from the National Association of Home Builders (NAHB) cited recent data that showed May 2014 posted the largest monthly increase in pending home sales since April 2010. The Pending Home Sales Index (PHSi) is based on signed contracts reported by the National Association of Realtors (NAR). In May, the index rose by 6.1 percent to 103.9, up from 97.9 on the scale in April.

Last week, based on Census data, the NAHB reported an 18.6 percent rise in new home sales in May. This reading coupled with the increased PHSI reading suggests that the housing market as it stands now will keep improving as the summer continues, further rebounding from an unusually rough winter.

Read the full article from NAHB here.

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