Home Sales are up!

October 6, 2009 | 3 Comments

The National Association of Realtors just reported that existing home sales rose 7.2% in July-the largest one month leap ever! If sales were to continue at this rate for a year, 5.24 million homes would be sold. This figure is up from June’s sales pace of 4.89 million. Economists note that this news shows that the economy has turned.

 NAR Chief Economist Lawrence Yun said,us-house-stats_2008_sm[1]

” The housing market has decisively turned for the better. A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales.”

Source: The Real Estate Professional, September/October 2009


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