MW: Pending-home sales index rises 3.7% in October
By Rex Nutting
WASHINGTON (MarketWatch) - Signed sales contracts on existing homes in the United States rose for the ninth straight month in October, a real estate industry group reported Tuesday. The pending home sales index rose a seasonally adjusted 3.7% in October from September, the National Association of Realtors reported. The index is up 31.8% compared with last October. The index rose 6% in September. The index tracks sales contracts on pre-owned homes. Typically, it takes a month or two after the contract is signed for the sale to close. At that point, the sale is booked in the NAR's existing-home sales report.
