Existing Home Sales Expected To Rise

Economists expect that a report out from the National Association of Realtors on Tuesday will show that sales of existing homes rose about 6 percent in May. That would be a nice jump — though government tax credits are still helping sales. Home buyers who want that credit of up to $8,000 have to complete deals by the end of June.

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RENEE MONTAGNE, host:

The health of the housing market is at the top of NPR's business news.

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MONTAGNE: Sales of existing homes slowed in May compared to the previous month. Economists were expecting sales to improve, in part because of the government's homebuyer tax credit. Buyers had to sign by the end of April, but have until the end of June to close, so the report comes as a disappointment. But, compared to May of last year, sales of existing homes rose nearly 20 percent.

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