NAR: Year-over-year jump is highest in Midwest
By Inman News, Wednesday, November 30, 2011.
Pending sales of U.S. existing homes jumped 10.4 percent in October, according to an index released today by the National Association of Realtors.
The monthly increase in NAR’s Pending Home Sales Index is the largest since an October-to-November jump last year, and continues a recent trend in the index’s gradual rise for the year.
October’s 93.3 index rating represents a jump of 9.2 percent compared to October 2010, with all U.S. regions climbing on a year-over-year basis.
The NAR index report, updated monthly, also shows that all U.S. regions but the West experienced significant bumps in contracted home sales in October, including a 24.1 percent monthly jump for the Midwest, to 88.7. In the West, the index dropped 0.3 percent to 105.5; however, the region still has the highest index rating, a position it has maintained for the last year, except for March and April 2011.