Released: December 23, 2009

Home sales surge on tax credit

Source: Dina ElBoghdady and Neil Irwin, Washington Post (Free Registration)

Federal programs designed to jump start the housing market helped boost sales of previously owned homes to their highest level since February 2007 and whittle down the excess supply of homes on the market in November.

The National Association of Realtors reported on Tuesday that sales of existing single-family homes, townhomes, condominiums and cooperatives rose 7.4 percent in November from the previous month to a seasonally adjusted annual rate of 6.54 million homes.

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