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By all measures the housing market is improving. Last month we saw a 7.4% surge in existing home sales in November. 6.54 million units were sold, compared with 6.09 million in October. Analysts had expected sales to come in at 6.25 million.
Much of the increase came from government incentives for first time home buyers. A tax credit of $8,000.00 was extended into next year. A second incentive of $6,500.00 was added for homeowners who lived in their homes for five years and are willing to relocate.
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