Existing home sales were up 10.1% in October, 23.5% over the previous October, thanks to the now-extended first time buyers’ home credit. [Link]
It’s not clear the surge represents a bottoming out of the housing market, as the sales are still not happening organically–that is to say, without a government incentive. And now that the home buyers’ credit has been extended to April, we won’t know if we have an organic, non-subsidized bottom until after then.
