Home sales drop to lowest level in 22 years, but there is optimism

ViewThe National Association of Realtors said Thursday that the Pending Home Sales Index, an indicator of home sales based on contract signings, dropped 1.5% to 71.4 in October. The index is at its lowest level since it was developed in 2001, the NAR said. 

The index showed a year-over-year decline of 8.5% in...