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Pending home sales up, a mixed message on real estate market

Posted on 03 December 2010

From 247wallst.com: Pending home sales rose in October, according to the National Association of Realtors. The news comes just a day after S&P/Case-Shiller data showed a drop in home sales. Perhaps there are more homes for sale at lower prices. There is not enough data from any sources to make an affirmative conclusion.
“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,” the NAR reported……………………………………….Full Article: Source

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