国际英语新闻：U.S. pending home sales rise 10.4 percent in October

WASHINGTON, Dec. 2 (Xinhua) -- U.S. pending homes sales jumped in October, showing a positive uptrend since bottoming in June, according to a report released on Thursday by a leading U.S. housing research organization.

The National Association of Realtors' Index of Pending Homes, or previously owned homes, increased 10.4 percent to 89.3 in October from 80.9 in September. But the index remains 20.5 percent lower than the October 2009 reading of 112.4, which was the highest level since May 2006 when it hit 112.6.

Lawrence Yun, NAR chief economist, said excellent housing affordability conditions are drawing home buyers.

"It is welcoming to see a solid double-digit percentage gain, but activity needs to improve further to reach healthy, sustainable levels," he said. "The housing market clearly is in a recovery phase and will be uneven at times, but the improving job market and consequential boost to household formation will help the recovery process going into 2011."

Still, many economists believe that the U.S. housing market remains in trouble water.

"Housing market remained depressed," the Federal Reserve noted on Wednesday in its latest economic situation survey.

The housing slump, which started in 2006 after having experienced white-hot five years, is still underway due to tight credit markets, souring consumer confidence in the overall economy and high unemployment.