In another positive sign for the US economy, pending sales of existing homes jumped substantially in May

Jay Soloff

Argonath Financial

In another positive sign for the US economy, pending sales of existing homes jumped substantially in May. Contracts on previously owned homes increased by 6.1% from April. That's the largest increase since 2010. It's also significantly higher than Bloomberg estimates of a 1.5% gain. The spark in pending sales is at least in part due to lower borrowing costs brought on by the Fed. Increasing economic strength and looser credit are also likely contributing to the gains in home sales. Along with employment, gains in the housing market are vital to the full recovery of the US economy. (VIEW LINK)


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Jay Soloff
Research Analyst
Argonath Financial

I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...

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