Pending home sales increased 0.1% to an index reading of 110.0 in October, after a revised 1.4% gain to 109.9 in September, according to a report released Wednesday by the National Association of Realtors.
The September index was first reported as up 1.5% to 110.0.
An index of 100 is equal to the average level of contract activity during 2001.
Year-over-year the pending homes sales index increased 1.8% from last October, when the index was 108.1.
Regionally, pending sales were mostly higher. The Northeast saw a 0.4% increase to 96.9, while sales grew 1.6% to 106.3 in the Midwest. Sales rose 0.7% in the West to 108.3 and sales fell 1.3% in the South to 120.1.
"Most of the country last month saw at least a small increase in contract signings and more notably, activity in all four major regions is up from a year ago," NAR Chief Economist Lawrence Yun said. "Despite limited listings and steadfast price growth that's now carried into the fall, buyer demand has remained strong because of the consistently reliable job creation in a majority of metro areas."
Economists polled by Thomson Reuters predicted the index would be up 0.3%.
