Home sales are continuing to improve for the fourth consecutive month. New homes sales were at 9.6 % for July. The $8,000 incentive for first home buyers appears to have contributed to the gain as the sale of homes under $100,000 was up 39%. And, as more homes were sold, home prices also rose slightly. This is a positive sign for the economy.
In Omaha NE the market never got as bad as in many places in the country and the $8,000 tax credit has helped to keep sales going. We will see what happens in December when the tax credit expires.
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