U.S. pending home sales rise 0.1 pct in May

WASHINGTON, July 1 (Reuters) - Pending sales of previously
owned U.S. homes rose slightly in May, the fourth straight
monthly gain, a real estate trade group said on Wednesday.

The National Association of Realtors said its Pending Home
Sales Index, based on contracts signed in May, was up 0.1
percent to 90.7 from a upwardly revised index of 90.6 in April.
The index for April had previously been reported as 90.3.

Economists polled by Reuters ahead of the report were
expecting pending home sales to remain unchanged. The trade
group said April's gain was revised upward to 7.1 percent from
the 6.7 percent previously reported.
(Reporting by Patrick Rucker; Editing by Andrea Ricci)