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Pending home sales rise for record eight straight months
Realtor.com
Pending home sales rose again, marking eight consecutive monthly gains—the longest streak since measurement began in 2001, according to the National Association of Realtors. NAR estimates approximately 3 million renters are now financially well-qualified to buy a median-priced home. NAR chief economist Lawrence Yun cautioned that although the first-time home buyer federal tax credit is greatly reviving the existing home market, new-home sales may continue to struggle as home builders hold back production to drive down inventory. More

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