Daily Economic Indicator: Pending home sales skyrocket

12/2/2009 | CNNMoney · Reuters

The number of previously owned homes in the U.S. under contract for sale jumped 32% in October, compared with a year earlier, the National Association of Realtors said. It marked the biggest yearly increase in the history of the index. The Realtors' association's Pending Home Sales Index also increased between September and October, marking an unprecedented ninth consecutive monthly boost. The index is now at its highest level since March 2006.

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CNNMoney · Reuters

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