Previously owned homes saw a 10% increase in pending sales

12/2/2010 | Bloomberg

Pending sales of existing homes increased 10% in October, after falling 1.8% the previous month, according to the National Association of Realtors. "The housing market clearly is in a recovery phase and will be uneven at times, but the improving job market and consequential boost to household formation will help the recovery process going into 2011," said Lawrence Yun, the association's chief economist.

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