Pending Home Sales Index Jumps in October - |

Armando Montelongo Team Blog

Pending Home Sales Index Jumps in October

An index designed to predict existing-home sales in upcoming months increased by 10.4 percent in October, led by a big jump in the Midwest, according to a new report.

The Pending Home Sales Index, which tracks sales in which the contract has been signed but the transaction not closed, was up 9.2 percent from a year ago. The index in the Midwest increased 24.1 percent in October and is up by 13.2 percent for the year.

Compiled and posted by the National Association of Realtors, the index is based on a national sample and tends to predict completed sales activity within the next two months.

Here is data for the four major regions of the country in the index, which is based on a value of 100 established in January 2001. The table has the index level for each region in October, the change from September and the change from October 2010:

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