2010.11.0512:36:00UTC+00Pending Home Sales Show Unexpected Drop In September

Pending home sales unexpectedly decreased in the month of September, according to a report released by the National Association of Realtors on Friday, with the group noting that the drop signals an uneven housing market recovery entering 2011.

NAR said its pending home sales index fell by 1.8 percent in September following an upwardly revised 4.4 percent increase in August. Economists had expected pending home sales to increase by 2.5 percent compared to the 4.3 percent increase originally reported for the previous month.

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