There is a lot of confusion out there today over how the first time home buyer tax credit extension figures into the Commerce Department’s report on sales of new construction.
“New Home Sales,” as we call it, plummeted 11 percent, quite unexpectedly, after another rise in “Existing Home Sales” yesterday.
Let’s look at timing, shall we?
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See Also:
- HOUSING SHOCK: New Home Sales Plunge 11.3 Percent!
- Home Sales Surge 44.1% In November Thanks To Tax Credit
- Existing Home Sales Up Strong In November On Tax Credit