Nine consecutive gains for pending home sales

Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the latest survey. The Pending Home Sales Index increased 3.7% to 114.1 from 110.0 in September, and is 31.8% above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.

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