Pending Home Sales Up Sharply from 2011

Washington, DC, Nov. 29, 2012 -- Pending home sales rose 5.2% in October, according to the National Association of Realtors.

The index rose to 104.8 in October from 99.6 in September, NAR said. Sales were up 13.2% from a year ago, for the 18th month of annual gains.

"We've had very good housing affordability conditions for quite some time, but we're seeing more impact now from steady job creation, and rising consumer confidence about home buying now that home prices have clearly turned positive," said Lawrence Yun, NAR's chief economist, in a press release.

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