MUTED MOMENTUM
05/21/2026 |
April pending home sales rose 1.4%, better than the 0.9% expected but down from 1.7% last month. More importantly, Y-o-Y sales rose 3.2%, which at first glance looks passable until one recalls that last April was when “Liberation Day” tariffs were imposed, causing the stock market to swoon. So, a rise of 3.2% is hardly the stuff dreams are made of. Over the last 6 months pending sales have slid 1.1%.