Distressed properties continue to flood the market and depress housing prices. This, along with a rush to take advantage of an $8,000 federal tax credit that was originally set to expire on November 30, caused home sales to spike in November. Sales were 7.4% higher than in October and were a whopping 44.1% higher than in November 2008.

Originally posted here:
Jump in Existing Home Sales Reflects Distressed Homes Hitting the Market