Pending Home Sales Fall 4.7%, Worse Than Expected

Pending home sales fell 4.7% in May from a revised 6.3% the previous month, down 14% year-over-year and exceeding the -2.8% consensus estimate.

Wholesale inventories rose 0.8% in May, slightly exceeding the 0.7% consensus estimate but lower than the revised 1.3% figure from the previous month.

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