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Market Memories

In a roundup of the latest market reports, Bloomberg notes that the nearly 32% surge in home sales this quarter results in the largest increase in five years. Sounds great, but reality reminds us that deep discounts helped moved many of those stalled properties. Of course, the jump to 339 homes sold from just 257 in the third quarter of 2008 is nothing to ignore, but perspective hits when the article notes the Q2 2004 Hamptons peak, a mystical 1,052 sales. Ah, memories of the good old days. [Bloomberg]