The national housing market got its third piece of good news in 3 days:
- Monday: Existing Home Sales up
- Tuesday: Home values appear higher nationally
- Wednesday: New Home Sales up
At least, that's what the data is showing us. According to an industry trade group, first-time home buyers accounted for half of all sales of previously-owned homes.
The stimulus package's $8,000 tax credit likely played a role in this 50 percent figure, as well as sagging home prices in most markets and low mortgage rates nationwide.
But lest we carried away, we can't forget that February's New Home Sales is still the second-lowest tally on record and that two months of data doesn't define "turnaround".
On the other hand, if the trend continues through the Spring Buying Season, we'll likely look back at Winter 2009 as the low point in housing. To discuss the Renton housing market, Kent condo market or just what the rest of the economists are saying give me a call. Hit the link to get a live market snapshot straight from the MLS. More good news and good housing info from the Gary McNinch Team Renton Realtor.
(Image courtesy: LA Times)
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