The numbers: Pending home sales rose for the third month in a row, as more buyers returned to the housing market. Contract signings in the U.S. rose 2% in October from the previous month, according to the monthly index released Wednesday by the National Association of Realtors.

Contracts to buy U.S. previously owned homes rose unexpectedly in October, notching a third straight month of increases, despite high mortgage rates and as inventory of properties for sale continued to build and a healthy job market fortifies the finances of prospective buyers.

The 77.4 reading for NAR’s pending sales index is the highest mark since March and the third highest going back to December 2023.