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August Existing Home Sales are Highest Since The Tax Credit Expired in 2010

Existing home sales for August increased 7.8% to 4.82 million homes. This is up from 4.47 million homes in July. This represents the most homes sold since the homebuyer tax credit expired in 2010.

Existing Home Sales is a measure of the selling rate of pre-owned single-family homes, collected by the National Association of Realtors from 650 realtor associations. The data is timely and is used in conjunction with the new home sales release from the Census Bureau. Sales of existing (or pre-owned) houses account for roughly 84% of all houses sold. Sales of new houses account for the other 16%. Simply, the volume of sales indicates housing demand.

Existing Home Sales April - Aug 2012

Existing Home Sales April – Aug 2012

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