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Home Sales See Huge Spike From September to November
January 22, 2010 by spencer · Leave a Comment
Home sales rose again in October to their highest pace in more than two and a half years, as first time buyers scrambled to use the $8,000 tax credit that was set to expire in November. Across the country, home sales are now more than 35 percent higher than in January, when sales bottomed out; though they do remain 15 percent below the peak reached in the fall of 2005. At the current pace of sales, existing inventory would be exhausted in seven months, and some areas are seeing bidding wars.
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