NAR SEES REAL ESTATE REBOUND
The National Association of Realtors predicts a 13.6% rise in existing home sales for 2010, much more robust than the 2% increase this year. And new home sales could rise as much as 38%. NAR reports that the tax credit for new home buyers is working even better than projected with first timers now accounting for 47% of all home purchasers, up from 41% in 2008. The organization also predicts home prices will rise 4% in 2010 after declining about 13% this year.
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