The author wrote that new home sales sales in the US in the most recent year had risen fastest in the past 47 years.The reason, however, is not that the economy is improving dramatically. But that the tax credit was about to expire so buyers snatched up properties ahead of the expire day.
However, there are now fewer home to buy, as indicated by the author. Although new-home sales in March exceeded analyst expectations, sales are still trending near record lows. Oversupply still exists and the prices are under pressure.
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