Existing Home Sales Expected To Rise
RENEE MONTAGNE, host:
The health of the housing market is at the top of NPR's business news.
(Soundbite of music)
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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