In another sign that the US economy is coming out of recession, the National Association of Realtors (NAR) says that 545,000 housing units were sold in November, an increase of 7.4 percent over October. The NAR reports that many house-buyers are taking advantage of a tax credit worth $8,000, and that house prices are at an historically low level. “We expect a temporary sales drop while buying activity ramps up for another surge in the spring when buyers take advantage of the expanded tax credit, which hopefully will take us into a self-sustaining market in the second half of 2010″, says Lawrence Yun, NAR chief economist.

November’s sales are 44.1 percent higher than the same month in 2008.

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