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Mending from the sudden sharp drop in activity due to the coronavirus crisis, real estate across the United States is heating up, rekindled by growing demand and insufficient supply.

The National Association of Realtors’ (NAR) pending home sales index, a future-looking indicator of completed sales based on signed contracts, posted a staggering comeback in May, the latest month for which data is available. The index spiked 44.3 percent, registering the highest month-over-month increase since its inception in 2001.

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What will the rest of the year spell for the housing market?
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