Existing home sales sink 16.7%

According to CNNMoney home sales fell in November by 16.7%. Although this is a downturn the year by year report of sales is up by 15%. "It was expected that sales would decline from November to December, because November was slated to be the last month in which sales to first-time homebuyers could qualify for a federal tax credit of up to $8,000." For 2009 though home sales are up by 4.9% from last year. The article goes on to give 7 tips about buying foreclosed houses. Although sales in November have been down things are looking up because car sales are stronger and more sustainable, which is a sign of a better economy.