By Les Christie, CNNMoney.com staff writer
NEW YORK (CNNMoney.com) -- Americans have been inking the lot of deals to buy homes.
In Oct the National Association of Realtors available an unprecedented ninth consecutive month of increases in the series of sealed contracts.
Although these have been not sealed sales, as well as some deals can fall through, sealed contracts have been the great indicator of where the housing market is headed.
Between Sep as well as Oct NAR's Pending Home Sales Index rose 3.7% to 114.1 from 110 in October. But the index is 31.8% aloft than the year ago, when it was 86.6. That's the biggest year-over-year benefit in the history of the index.
The PHSI is additionally at the highest level since Mar 2006, as well as the climb astonished consultant expectations. A row of industry analysts put together by Briefing.com had forecast the 1% dump in brand new contracts.
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