Pending-home sales up by most in almost a year
Rick Bowmer / AP
This Nov. 28, 2011 photo, shows a home with a sale pending sign, in Portland, Ore. The number of Americans who signed contracts to buy homes jumped in October to the highest level in a year.
By Reuters
Pending sales of existing U.S. homes surged in October by the most in nearly a year as Americans took advantage of low interest rates for mortgages, data from a real estate trade group showed on Wednesday. The National Association of Realtors Pending Home Sales Index, based on contracts signed in October, rose 10.4 percent to 93.3 from 84.5 in September.
That was the biggest monthly gain since November 2010.
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