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. Sales were up 44 percent from a year ago, the highest annual gain since the group started tracking the data in 1999. Full article here: http://snipurl.com/tti4w [www_washingtonpost_com]
