US pending home sales slip for 3rd straight month

WASHINGTON | Americans signed fewer contracts to buy homes in May, the third straight monthly decline and evidence that a shortage of homes for sale has suppressed home-buying.
The National Association of Realtors said Wednesday that its pending home sales index fell 0.8 percent in May to 108.5. That’s down from 109.4 in April and 111.3 in March. The index has slipped 1.7 percent over the past 12 months.Would-be buyers are facing higher prices and fewer options. Sales listings have pl