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INDIANAPOLIS-In the absence of federal tax credit for homebuyers, the housing market in the Indianapolis region took a plunge in July 2010.

The region witnessed a 30% year-on-year decline in the number of homes sold in the month, to 1,671. The $8,000 tax credit for first-time home buyers and $6,500 credit for existing homeowners prior to July were responsible for artificially boosting home demand in the region, according to Carpenter Realtors. For the full story, go to IndyStar.com.

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