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Unexpected Gain in Existing-Home Sales

As the prices of existing-homes are continuously falling down owing to the uncertainty prevailing in the housing market, first-time home buyers find it the most appropriate time to own a home. The statistics revealed by the National Association of Realtors provide an evidence to this trend.

According to the NAR, 4.74 million existing-homes have been sold during the month of December, 6.5 percent more that the preceding month. The number of sales in November was 4.45 million units.

Compared to the sales of last year, this is still 3.5 percent below the 4.91 million units in December, 2007.

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