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percent in May, according to figures released Tuesdagy bythe . The residential markey was on pace to close saleson 4.77 millio n units of existing homes, including single famil houses, townhouses, condominiums and in 2009. That is 3.6 percent lower than the 4.95 million unit pace set in May 2008. The May figuresz showed a modest uptickfrom April, when homee sold at an annual pace of 4.66 million NAR, based in Chicago, attributec the bump between April and May to lower home pricees and an $8,000 federal tax credit for first-time home First-time buyers accounted for 29 percent of all 10 percentage points highe than a year ago. The marker continues to favor buyers. There were 3.
8 million homes for sale in May, enoughg to satisfy demand for 9.6 months, well above the six-month levelo the NAR says indicates a market is in Inmetro Portland, there were enough homes to meet deman d for 10.2 months in May, according to the Regional Multiplr Listing Service.
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