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02opida

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02opida

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Friday, 12/29/2006 6:43:41 PM

Friday, December 29, 2006 6:43:41 PM

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It was a week of surprising -- and mostly good -- news for the housing market.

On Thursday, the National Association of Realtors reported that existing-home sales rose 0.6% in November. Inventories of unsold homes fell 1%, the group reported.

The day before, it was the Commerce Department with news that sales of new homes rose 3.4% in November. Sales figures for October were also revised upward. Moreover, the median sales price for new homes rose to $251,700, up from the $248,500 reported in October.

Some industry observers read the trends as encouraging for housing.

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