Strong Rebound in Pending Home Sales
Washington, DC, December 02, 2010
Pending home sales jumped in October, showing a positive uptrend since bottoming in June, according to the National Association of REALTORS®.
The Pending Home Sales Index, a forward-looking indicator, rose 10.4 percent to 89.3 based on contracts signed in October from 80.9 in September. The index remains 20.5 percent below a surge to a cyclical peak of 112.4 in October 2009, which was the highest level since May 2006 when it hit 112.6.
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