Morning Minute: U.S. pending home sales inch slightly higher in October, NAR reports

Image: Bigstock

Image: Bigstock

October pending home sales rose slightly — up 0.1 percent — compared to the month before and was 1.8 percent higher than a year ago, the National Association of REALTORS® (NAR) reports today.

“Most of the country last month saw at least a small increase in contract signings and more notably, activity in all four major regions is up from a year ago,” said NAR Chief Economist Lawrence Yun. “Despite limited listings and steadfast price growth that’s now carried into the fall, buyer demand has remained strong because of the consistently reliable job creation in a majority of metro areas.”

Read NAR’s news release and watch a new video with Yun.

In other headlines:

U.S. home prices surpass pre-recession peak amid healthy sales – Chicago Tribune

MBA: 30-year mortgage rate moves higher, at highest level since July 2015 – HousingWire

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