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Watch for inventory rise despite tax credit’s sales boost

Zillow report: We're not out of the woods yet

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See related articles: Brokers, builders win with sales surge Signs of another down year in real estateAlthough the most recent numbers out for home sales -- both new and existing -- showed a surge, inventory may yet continue to rise past the summer, according to an analysis by property search and valuation site Zillow. Both the National Association of Realtors and the National Association of Home Builders credited the federal homebuyer tax credits -- $8,000 for first-time buyers and $6,500 for repeat buyers -- for the March jump in sales. Even as existing-home sales rose, however, more homes hit the market last month than were sold. Raw unsold inventory rose by 1.5 percent to 3.58 million units, according to data from NAR. "While the fact that March sales numbers are increasing is undoubtedly a positive sign, (that rising figure) does make one at least ponder whether the market is currently capable of clearing itself of inventory without paying peop...