By Dan Weil Pending home sales inched 0.7% higher in May from April, and new home sales rose as well. Don’t get too excited about the housing market, despite a couple recent pieces of good news. First, pending home sales crawled 0.7% higher in May from April, after six straight monthly declines. But sales dropped 13.6% from May 2021, according to the National Association of Realtors. “Despite the small gain in pending sales from the prior month, the housing market is clearly undergoing a transition,” NAR Chief Economist Lawrence Yun said in a statement. “Contract signings are down sizably from…