Investing.com - Pending home sales in the U.S. rose more-than-expected in October, surging to a five-year high, industry data showed on Thursday
In a report, the National Association of Realtors said its pending home sales index rose by 5.2% in October, blowing past expectations for a 0.8% gain.
Pending home sales in September rose by 0.4%.
Year-on-year, pending home sales rose at annualized rate of 1805% last month, above expectations for an 8.9% increase, after rising 8.7% in September.
Following the release of the data, the U.S. dollar was lower against the euro, with EUR/USD adding 0.44% to trade at 1.3010.
Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Industrial Average rose 0.5%, the S&P 500 index added 0.65%, while the Nasdaq Composite index climbed 0.8%.
In a report, the National Association of Realtors said its pending home sales index rose by 5.2% in October, blowing past expectations for a 0.8% gain.
Pending home sales in September rose by 0.4%.
Year-on-year, pending home sales rose at annualized rate of 1805% last month, above expectations for an 8.9% increase, after rising 8.7% in September.
Following the release of the data, the U.S. dollar was lower against the euro, with EUR/USD adding 0.44% to trade at 1.3010.
Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Industrial Average rose 0.5%, the S&P 500 index added 0.65%, while the Nasdaq Composite index climbed 0.8%.