SILVER SPRING, Md. — The number of Americans signing contracts to buy homes rebounded a record 44.3 percent in May after a record-breaking decline the previous month, as the impact of the coronavirus pandemic sidelined both buyers and sellers.

The National Association of Realtors said Monday that its index of pending sales rose to 99.6 in May, the highest month-over-month gain in the index since since its inception in January 2001. The pending home sales index plunged 21.8 percent from March to April to a level of 69.

The contract signings — a barometer of finalized purchases over the next two months — have fallen 5.1 percent over the past year, but Monday’s better-than-expected pending home sales data offers some optimism for the housing market, which was severely hampered by the coronavirus pandemic.

Sales of both existing and new homes fell sharply during the traditional spring selling season as communities were locked down to prevent the spread of the coronavirus.

Rite Aid 1Q loss shrinks, helped by pandemic-inspired

Customers pumped up Rite Aid sales of sanitizers, wipes and liquor, helping the drugstore chain deliver a better-than-expected first-quarter performance.

Company shares started climbing early Thursday after Rite Aid said its fiscal first-quarter loss shrank to $63.5 million from $99.7 million in the previous year’s quarter.

Sales from the front end, or the area outside the pharmacy of Rite Aid’s established stores, jumped 16 percent in the quarter, excluding tobacco products. Those sales were helped by increased purchases of cleaning products as customers stocked up to fight the coronavirus pandemic.

But Rite Aid said the virus that causes COVID-19 also imposed added costs for safety measures and other expenses and led to a decline in some prescriptions. The company estimates that those expenses added up to a $30 million hit in the quarter.