DES MOINES, IOWA (AP) -- Home sales in Iowa's largest city has seen a 71 percent jump from the same period last year.
The Des Moines Area Association of Realtors says tax credits for first-time homebuyers helped push sales to 822 in November. Despite the improvement from November 2008, that was still 5 percent less than the number of homes sold in October.
Congress extended the $8,000 first-time home buying credit to April 30, and expanded it to existing homeowners, who can qualify for $6,500 when buying a new or existing home.
Realtors say 463 home sales were pending in November, about 39 percent below October but 6.7 percent more than November 2008. The average home sale price of $154,021 in November was a drop of $2,792 from October's average sale price and a $10,925 decrease from sales a year ago.
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