Pending-home sales pop in October, snapping three-month losing streak

• November 29, 2017
• realestatelife
• Announcements, Business & Markets, Real Estate, Real Estate Finance

Pending-home sales jumped 3.5% in October, but remained 0.6% lower than a year ago, the National Association of Realtors said Wednesday.

The pending-home sales index tracks real estate transactions in which a contract has been signed, but the deal has not yet been closed.

Economists surveyed had forecast a 1% increase for the index in October. October’s index reading was 109.3, where 100 is equal to the average level of contract activity during 2001. September’s reading was revised down slightly, to 105.6.