U.S Home Sales Up 10.4% in October

U.S. home sales and homebuilding also came roaring back to life in October. October pending home sales jumped a record 10.4 percent, lead by a 27 percent jump in the Midwest and a 20 percent gain in the Northeast. October construction spending also grew again in October, rising 0.7 percent, confounding analyst forecasts for a -0.3 percent monthly decline. Private residential construction alone jumped 2.5 percent in October, the biggest increase in private residential construction since April 2010.