REUTERS/Richard Clement
Economists polled by Bloomberg are looking for pending home sales to rise 1% month-over-month, and fall 1% on the year.
This compares to a 5.6% monthly fall in September, and a 1.1% year-over-year rise.
Pending home sales have been falling for some time now and the index is considered to be a leading indicator for future existing home sales.
The Commerce Department expects that 80% of signings will become existing home sales transactions within two months.
The PHSI looks at all homes where a contract has been signed but the sale is not complete.