Having inched up a nominal 0.3 percent in September, the National Association of Realtors Pending Home Sales Index slipped 1.1 percent in October but is running 2.2 percent higher on a year-over-year basis, versus 1.0 percent higher in September which was the first recorded year-over-year gain in eleven months.

The Pending Home Sales index for the West dropped 3.2 percent in October but remains 4.1 percent higher versus the same time last year.

And in terms of inventory, the number of listed homes for sale across the country is currently running 4.8 percent lower, year-over-year, down 2.9 percent over the past month.

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