Thursday, December 2, 2010

Econoday Report: Pending Home Sales Index December 2, 2010

Econoday Report: Pending Home Sales Index December 2, 2010: "Pending Home Sales Index
Released on 12/2/2010 10:00:00 AM For Oct, 2010
PriorActual
Pending Home Sales Index - Level80.9 89.3
Pending Home Sales Index - M/M-1.8 %10.4 %


Highlights
In badly needed good news on the housing sector, the pending home sales index jumped 10.4 percent in October to indicate gains ahead for existing home sales. The index at 89.3 is up 18 percent from its post-stimulus low in June. Low home prices and low rates appear to be stimulating demand.

October gains were concentrated in the Midwest and Northeast though the South showed a solid gain. The West was little changed. This is forward-looking data as is the weekly Mortgage Bankers purchase index which has been on a solid upswing"
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