Home Sales Jump
Chalk up one more point on the economic recovery side. Housing statistics released late last week gave us the strongest reason to date to believe that the worst is definitely behind us. New home sales jumped 27% last month, which was good news coming off a record low month. Better weather and the tax incentive are largely responsible for this huge gain, the biggest month in 47 years.
New home sales were not the only sales up last month. Existing homes sales were up nearly 7% from the previous month and were up 16% from a year ago. The new homebuyer tax credit is set to expire at the end of the month, so buyers have just a few more days to find a home and secure a contract. In order to qualify for the tax credit buyers must have an executed contract by April 30, 2010 and must close before July 1, 2010. There are exceptions for those who have been serving in the armed forces.
You can read more about the new home sales increase in this article from USA Today. Stay tuned...I'm sure this year will bring more good news on the real estate front.
Stacy is a licensed REALTOR® and the team leader of The Jones Team, a group of REALTORS® in Katy, who work together to provide exceptional service for their clients. Stacy and his team specialize in the areas west of downtown Houston. These incredible real estate agents can help you buy or sell a home in locations such as Katy, Cypress, far West and Northwest Houston, Richmond, Fulshear, Sugar Land, Spring Branch, Memorial, Spring, Tomball, The Woodlands, and Magnolia. Whether you are in the market to sell a home, buy a home, have a question about home appraisal value, need advice about home staging ,or have any other real estate related questions, Stacy and The Jones Team are available to help.
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