Pending home sales in the U.S. unexpectedly rose by 1.9% in October, reaching the highest level since November 2024. The Midwest saw a 5.3% surge, while the Northeast and South also saw increases. However, pending home sales in the West declined by 1.5%. NAR Chief Economist Lawrence Yun noted that the Midwest performed well due to better affordability. Days on the market are expected to lengthen during the holiday season, providing buyers with more negotiating power. A separate report showed existing home sales increased by 1.2% in October, surpassing expectations.

Read more at Nasdaq: U.S. Pending Home Sales Unexpectedly Surge To 11-Month High In October