Freddie Mac-No Politics (FMCC)

[KingofPennies]

BIG NEWS!

http://www.cnbc.com/id/28139410

Pending US Home Sales Ease Slightly in October
| 09 Dec 2008 | 10:03 AM ET

Pending sales of existing U.S. homes fell by a smaller-than-expected margin in October, data showed Tuesday, raising cautious optimism of some stability in the distressed housing market.

The National Association of Realtors Pending Home Sales Index, based on contracts signed in October, slipped 0.7 percent to 88.9 from an upwardly revised reading of 89.5 in September.

October's reading was 1.0 percent lower than a year earlier.

Economists polled by Reuters ahead of the report were expecting pending home sales to drop 3.2 percent.

Pending sales declined by a revised 4.3 percent in September.