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Donovan Not Ready to ‘Declare Victory’ on U.S. Housing Progress

Home sales, showing new signs of life two years after the credit crunch drove down home prices, must gain more ground before policy makers can “declare victory,” Housing and Urban Development Secretary Shaun Donovan said.

“It is too early to certainly declare victory,” Donovan said in an interview for Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend. He said prices picked up over the last year and Americans added $1.1 trillion in equity to their homes.