US DATA: Oct NAR Pending Home Sales Index +5.2% to…

US DATA: Oct NAR Pending Home Sales Index +5.2% to 104.8, and is +13.2% YOY. The
data reflect contracts but not closings; NAR says buyers are reacting to good
affordability, better job creation, rising confidence. Northeast saw some impact
from Hurricane Sandy. PHSI in the Northeast slipped 0.1 percent to 79.2 in
October but is 13.3 percent above a year ago. In the Midwest the index jumped
15.6 percent to 104.4 in October and is 20.0 percent above October 2011. Pending
home sales in the South rose 5.5 percent to an index of 117.3 in October and are
17.4 percent higher than a year ago. In the West the index declined 1.1 percent
in October to 105.7, but is 0.9 percent above October 2011.