Good News, Pending Home Sales | featured news

An index measuring the number of Americans who signed contracts to buy homes in October jumped to nearly its highest level in almost six years.

Pending sales of previously owned U.S. homes unexpectedly rose in February, a trade group said on Monday, pointing to a modest pick-up in home sales.

The number of people who signed contracts to buy homes rose in August for the second straight month but remained far below last year's pace.

The stock market rebounded Wednesday after a stronger-than-expected increase in pending home sales restored investors' optimism about the economy.

Signed contracts to buy previously occupied U.S. homes rose for the eighth straight month in September as buyers scrambled to take advantage of a tax credit for first-time buyers.