Pending home sales soared more than 10% in October

Pending home sales soared more than 10% in October and remain above year-ago levels, in a hopeful sign for the nation's housing market, according to the National Association of Realtors.

NAR's pending home sales index, a forward-looking indicator based on contract signings, surged 10.4% to 93.3 in October from 84.5 in September. The index is 9.2% above October 2010 when it stood at 85.5. (read more)