Pending home sales bounce in October

All regions except the West see monthly increase

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More homebuyers signed purchase contracts in October compared to September, pushing up a monthly index of pending home sales, according to a report from the National Association of Realtors.

Pending sales of existing homes rose 10.4 percent month-to-month in October, to 89.3. An index score of 100 is the average level of contract activity in 2001, the first year that index data was collected and a record year for existing-home sales.