National Association of Realtors Pending Home Sales Index (PHSI) rose 3.7 percent to 114.1 in October from 110 in September, and is 31.8 percent higher than October 2008’s 86.6 index reading. Pending home sales have risen nine consecutive months. The rise from a year ago is the largest annual increase ever recorded for the index, which is at its highest level since March 2006. However, in the West, which includes California, the index declined 11.2 percent to 127.7 but is 21.9 percent higher than October 2008.

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