Joresth Real Estate

Pending home sales surged 44.3% in May, the largest month-over-month increase since the series began in 2001.

"The outlook has significantly improved," said Lawrence Yun, NAR's chief economist.

Pending home sales skyrocket a record 44% in May as the housing recovery continues "This bounce back also speaks to how the housing sector could lead the way for a broader economic recovery," said Lawrence Yun, NAR's chief economist.