According to a recent report released by the National Association of Realtors, home sales in July increased just over seven percent over July of last year.  The report added this was the largest month to month gain since 1999.

In addition, the data pointed towards first time home buyers as the key to the increase.  If you have been reading my blogs, this should be no surprise to you.

Home prices have not become more affordable for the first time home buyer.  The previous seller's market shut-out the first time home buyer.  Many families making somewhere between 40 to 50 thousand a year could not afford a home.

But with prices dropping, first time home buyers have increased sales numbers in Maryland and across the country

Not only have prices dropped to more affordable levels, but government incentives have become to tempting for buyers.  The $8000 tax credit has done it's job in motivating potential home buyers to get off the fence and purchase a home.

Locally, Prince Georges County Maryland's Neighborhood Stabilization Program (NSP), offers buyers up to $20,000if the buy a vacant foreclosed property.  In Anne Arundel County Maryland, the Mortgage Assistance Program (MAP) also offers buyers down payment assistance of up to $10,000 or more.

The buyers I am currently working with in Laurel Md, are all aware of the government $8000 tax credit for purchasing a home.  The NSP and MAP programs are also getting Laurel buyers excited as well.