Pending Home Sales Surge

Pending Home Sales Surge
Pending home sales for the month of October climbed 10.4% to 93.3, the highest level of 2011. This also represents a 9.2% increase over October of last year.Pending home sales is a forward looking indicator that measures housing contract activity. It is based on signed real estate contracts for existing single-family homes, condos and co-ops. A signed contract is not counted as a sale until the transaction closes.

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