Home Sales Rise, but Hurdles Persist

Home sales rebounded in October
Home sales rebounded in October

The housing market is making strides in the right direction, but the summit is still a ways to go. Pending home sales bounced back with double-digit growth in October, a vast improvement since bottoming out in June.

Pending home sales rose 10.4 percent to 89.3 based on contracts signed in October, up from 80.9 in September. Yet even with the positive growth, the latest figures trail October 2009 numbers by 20.5 percent, when the housing market was buoyed by the homebuyer tax credit.