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Existing-home sales rose for the second straight month and are now above year-over-year levels for the first time in a year.

The income tax exemption on mortgage debt forgiven in a short sale or a workout for principal residences expired at the end of 2013.

Home builders are expressing optimism for better days ahead. They are partly right. But their recent roaring confidence could be a bit misleading.

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Monday, February 10

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