Pending home sales rose 3.8% in May and 4.8% year-over-year, supported by easing listing prices despite rising mortgage rates. Listing prices fell 2.4%, and price reductions declined, indicating sellers are pricing more realistically. All regions saw gains, led by the Northeast and Midwest. Key metro areas showed strong year-over-year growth. Market stability depends on economic conditions, with recent geopolitical developments potentially easing inflation and mortgage rates.