Purchases of U.S. Existing Homes Probably Climbed on Tax Credit

Sales of U.S. previously owned homes probably rose in March for the first time in four months as buyers took advantage of a government tax credit and the weather improved, economists said before a report today.

Foreclosures may dictate the direction of the housing market after the tax incentive is over. Filings rose 16 percent in the first quarter from a year earlier and bank seizures reached a record.

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