CONTRACTS UP: The number of Americans who signed contracts to buy homes jumped in October to its highest level in a year. The National Association of Realtors said its index for pending home sales rose to 93.3.
STILL DEPRESSED: The gain followed three months of declines and isn't enough to signal a housing recovery. A reading of 100 is considered healthy. It hasn't reached that level since April 2010.
MORE CANCELLATIONS: A growing number of buyers are canceling contracts after appraisals show homes were worth less than they bid. A sale isn't final until a mortgage is closed.