According the National Association of REALTORS® (NAR), the Pending Home Sales Index rose 5.2 percent in October, crossing the benchmark 100 reading, and moving to 104.8.
After a small decline in September, Existing Home Sales rebounded in October, increasing a modest 2.1%.
In September, for the fifth straight month, the Pending Home Sales Index hovered near its benchmark value of 100, registering 99.5.
The National Association of REALTORS® reports Existing Home Sales at 4.75 million units in September 2012 on a seasonally-adjusted, annualized basis, an 11 percent increase from one year ago.
According to the real estate trade association, the Pending Home Sales Index read 99.2 for August — the fourth straight month in which the index hovered near its benchmark value of 100.
According to the National Association of REALTORS®, 4.82 million “existing homes” sold on a seasonally-adjusted, annualized basis in August, representing a near 8 percent improvement from the month prior and a nine percent jump from August 2011.
In July, the third time this year, the Pending Home Sales Index crossed its benchmark value of 100, moving to 101.7.
Home resales climbed 2% last month as the housing market continues its slow, steady recovery.
All 20 Case-Shiller Index markets improved between April and May 2012.
The Pending Home Sales Index is on a 14-month winning streak.