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Housing continues to recover with more positive data coming out this morning. The existing home sales report for November was strong than expected at 5.04 million versus a consensus expectation of 4.9 million. Inventory of existing homes for sale sank 3.8% month-over-month to 2.03 million units, down from 2.14 million units in October. This is real growth in the market that shows growth is truly stabilizing and a very welcome recovery in a sector that’s been down on its luck for some time now.

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