Experts see 10.4% spike in pending home sales in October

12/1/2011 | CNBC

The National Association of Realtors has seen an uptick in pending home sales in October, with sales 10.4% higher than in September. "Home sales have been plodding along at a sub-par level while interest rates are hovering at record lows, and there is a pent-up demand from buyers who normally would have entered the market in recent years. We hope this is indicates more buyers are taking advantage of the excellent affordability conditions," said NAR's chief economist Lawrence Yun.

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