Existing home sales surge 5%
According to the National Association of Realtors, existing home sales rose last month to a seasonally adjusted annual rate of 4.72 million million units, up 5.1% from a rate of 4.49 million in January. February sales were down nearly 5% from year ago levels.
Could this be the beginning of the end of the real estate crisis? Are you in a position to purchase a home? Interest rates are still relatively low, new tax incentives, and first-time home buyers may be spurring the current surge in home sales that we are seeing. According to a report by Briefing.com first-time home buyers made up half of all home sales in February.
I've always said and will continue to say that now is the best time to purchase a home. All of the conditions are right for prospective home buyer to get an incredible deal on a home. Also, if you are a first-time home buyer and you purchase a home before December 31, 2009; you will enjoy a cool $8000.00 tax credit thanks to President Obama.
Don't take my word, here is what Chief U.S. Econmist of High Frequency Economics Ian Shepherdson had to say: "there's a "good chance" the collapse in home sales that has been going on since September is "now over." "Though a sustained recovery is still a long way off."
So, if you are in the market for a home, we can help you find a "Great Deal," and save you thousands of dollars on your next home purchase.
Visit us online: www.mdforeclosureseminar.com
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