Pending Home Sales Rebound 10.4% in October, Job Market Improves.

[Independem]

WASHINGTON (TheStreet) -- Pending home sales rose 10.4% in October, according to a National Association of Realtors report released Thursday morning.

An index that measures the number of contracts to buy previously owned homes in the U.S. rose 10.4% in October month-over-month to a reading of 80.9. The index remains 20.5% lower than year-earlier levels. October 2009 saw the highest level of pending home sales since May 2006 when it hit a reading of 112.6.

Economists had expected the data to be flat after a 1.8% downtick in September. September's rate of pending home sales came in worse than expected and was 24.9% lower than in the year-earlier month.

http://www.thestreet.com/_yahoo/story/10936945/1/pending-home-sales-rebound-104-in-october.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

Job Market Improves.

Pending sales of US existing houses unexpectedly jumped by a record 10 per cent in October, indicating the industry at the center of the last recession is stabilizing as the job market improves.

http://www.smh.com.au/business/world-business/us-home-sales-stabilise-as-jobs-market-picks-up-20101203-18ijh.html

Buy Low and Sell High, that’s the environment we are in at this moment with interest rates at a all time low, people have seen this is time to buy.

[northernlights]

1. guess they didn't seethe unemployment numbers this morning...nt