Pending home sales increased by 1.9% from the prior month but fell by 0.4% year over year in October, according to the National Association of REALTORS®. The report provides data on home sales under contract, with the Midwest and South seeing increases while the Northeast and West experienced declines. The REALTORS® Confidence Index survey shows a decrease in expected buyer and seller traffic over the next three months, with job gains in September providing reassurance for the economy. The Pending Home Sales Index is a forward-looking indicator based on home-contract signings, with an index of 100 equaling the 2001 contract activity level.

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