Pending home sales jump again in October

NAR: Existing homes under contract at highest sustained level in five years

Pending sales of existing homes were up 5.2 percent from September to October and 13.2 percent from a year ago, according to an index maintained by the National Association of Realtors.

NAR’s Pending Home Sales Index, which represents existing-home contracts signed but not yet closed, rose to 104.8 in October — the highest sustained level in five years. In April 2010, when the federal homebuyer tax credit was still in place, the index hit 111.3, but soon dipped back down.