California pending home sales reversed a two-month decline to post higher in October, but were down from a year earlier, C.A.R. recently reported. 

California pending home sales rose in October, with the Pending Home Sales Index climbing 2.5 percent in October to 109.3, up from 106.7 in September, based on signed contracts.  The monthly increase was considerably greater than the average September-to-October change of 0.7 percent over the past five years.  Pending sales were down 9.9 percent from the 121.2 index recorded in October 2012.  Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the marke