Existing Home Sales Beat Expectations

There's finally some good news coming out of the housing sector. Pending sales of existing homes rose 0.5 percent in September to match Econoday's high estimate. This points to strength for the next existing home sales report next month. The West was the strongest in September, up 4.5 percent though this reading is down 7.4 percent year-on-year. Overall pending sales are down a yearly 1.0 percent.