The latest industry news offers an encouraging outlook for homebuyers and sellers:
• According to the National Association of Realtors (NAR), existing-home sales rose 2.1 percent in October.
• The NAR also said its Pending Home Sales Index, based on contracts signed in October, gained 5.2 percent, more than economists expected.
• According to the CoreLogic Home Price Index, U.S. home prices rose by 6.3 percent in October from one year ago, the largest such gain in more than six years.
• The National Association of Home Builders’ index of homebuilder sentiment climbed in November for the seventh straight month to the highest level in more than six years.
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