Buyers responding to the homebuyer tax credit and favorable affordability conditions boosted existing-home sales in March, marking the beginning of an expected spring surge, according to the National Association of Realtors®.
Existing-home sales which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 6.8 percent to a seasonally adjusted annual rate of 5.35 million units in March from 5.01 million in February, and are 16.1 percent above the 4.61 million-unit level in March 2009.
Lawrence Yun, NAR chief economist, said it is encouraging to see a broad home sales recovery in nearly every part of the country, with two important underlying trends. “Sales have been above year-ago levels for nine straight months, and inventory has trended down from year-ago levels for 20 months running,” he said. “The home buyer tax credit has been a resounding success as these underlying trends point to a broad stabilization in home prices. This is preserving perhaps $1 trillion in largely middle class housing wealth that may have been wiped out without the housing stimulus measure.” Read more......
Source: Realtor.org, Washington, April 22, 2010
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2 comments:
This was exciting news. I see your company is still honoring an $8,000 incentive. That is fantastic!
The government tax incentive was a life saver for many many people. I happened to miss the deadline for that but I'm very happy to see that your company is offering the same to your buyers. It has made me seriously consider purchasing one of your homes. Thank you for giving me another chance to take advantage of a great offer!
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