Pending Sales Increase May Point to Budding Market Recovery

DSNews 11/30/2011

The National Association of Realtors’ (NAR) pending home sales index reported strong positive movement over the month of October, rising 10.4 percent from September.
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Nonetheless, “I’m actually encouraged by these numbers,” Yun says. This could be the first sign of sustained recovery in the market, he says.
Pending home sales rose in three of four regions in October, falling only in the West, which experienced a 0.3 percent decline to 105.5. The rate, however, is 8.1 percent higher than last year
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We will see if this is the start of a new beginning.