Pending Home Sales Up 10% in October

Washington, DC, Nov. 30, 2011 — Pending home sales rose 10.4% in October, according to the National Association of Realtors.

“We hope this indicates more buyers are taking advantage of the excellent affordability conditions,” said Lawrence Yun, NAR’s chief economist, in a press release.

The index had a reading of 93.3. An index reading of 100 is equal to the average level of contract activity during 2001.