US: Pending Home Sales Index climbed 1.5% to 110.2 in June

"The Pending Home Sales Index climbed 1.5% to 110.2 in June from an upwardly revised 108.6 in May. At 0.5 percent, the index last month increased annually for the first time since March," said the National Association of Realtors on Monday.

Key quotes:

• The first half of 2017 ended with a nearly identical number of contract signings as one year ago, even as the economy added 2.2 million net new jobs - Lawrence Yun, NAR chief economist
• Market conditions in many areas continue to be fast paced, with few properties to choose from, which is forcing buyers to act almost immediately on an available home that fits their criteria - Lawrence Yun, NAR chief economist
• Low supply is an ongoing issue holding back activity. Housing inventory declined last month and is a staggering 7.1 percent lower than a year ago