Home sales rise, but market is still struggling

09/2/2010 | Google · Christian Science Monitor, The

Even though home sales increased 5.2% from the prior month to a reading of 79.4 based on an index by the National Association of Realtors, the market remains weak and well below last year's levels. The expiration of a tax-credit for homebuyers is being partly blamed for the downturn. "Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery," said Lawrence Yun, the association's chief economist.

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Google · Christian Science Monitor, The

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