The crystal ball has been shining a bit brighter these days; but fair to say it isn't quite glowing yet. According to Steve Palm, Smart Numbers, indicators are beginning to point in a positive direction supporting the predications of positive results in the second half of this year.
The first time home buyer has helped fuel improved sales due to historically low interest rates and the First Time Home Buyer Tax Credit. According to Lawrence Yun, NAR Chief Economist said, "The share of lower priced home sales has trended up, indicating a return of many first-time buyers, which we also see in a parallel member survey." Sales in the upper price ranges remain stalled because of higher interest rates on jumbo loans." (Realtor.org April 23, 2009). A survey by NAR shows first time home buyers accounted for 53 percent of transactions nationwide.
As we all look forward to a more robust selling season here in Atlanta, let's take a look at how the market faired in March 2009 compared to March 2008.
For additional reading:
H.R. 3221- First Time Home Buyer's Tax Credit
State of the Market
Come to my house:
My Suwanee Home.com
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