For Fifth Month Straight, Pending Home Sales Slide

In a continuing downtrend, May’s pending home sales slid, declining 0.5 percent for the fifth month in a row (year-over-year), according to the National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI).
Despite gains in three of the four major regions in the U.S., a considerable drop in the South tamped down the total. Activity increased 2.9 percent in the Midwest, 2 percent in the Northeast and 0.6 percent in the West, but slumped 3.5 percent in the South.“Pending