Pending house sales dropped in October
Monday, November 25, 2013 2:41 PM
The number of contracts to buy previously-owned homes unexpectedly fell in October for a fifth consecutive month amid higher borrowing costs, the National Association of Realtors said today, Bloomberg reported. The gauge of pending home sales decreased 0.6 percent after a 4.6 percent drop in September. The median projection in a Bloomberg survey of economists called for a 1 percent gain in the index from the month before.