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Homebuyer tax credit back in play?

July's dismal housing numbers revive debate

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July's housing sales numbers were worse than expected, and while it's too early to say whether federal homebuyer tax credits will be revived, the Obama administration is not ruling it out, Housing Secretary Shaun Donovan said on CNN's Sunday morning news show, "State of the Union."Told by host Ed Henry that he'd been "pretty rosy" in the past year about the outlook for housing, Donovan defended the administration's performance, saying prices have stabilized after 30 months of declines.The housing market would be "a lot worse" without steps the administration has taken to bring interest rates to record lows, provide a homebuyer tax credit, and help "millions of families stay in their homes," Donovan said.But Donovan acknowledged that "the July numbers were worse than we expected, worse than the general market expected, and we are concerned."Sales of existing homes plummeted by 27 percent in July, and sales of new homes were down 12 perce...