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Market UPDATE!!!

By
Real Estate Agent with RE/MAX Premier Properties

The big news in this week's economic data came from the housing sector. March Existing Home Sales rose 7% from February, and existing home sales were 16% higher than one year ago. Inventories of unsold existing homes fell to an 8-month supply, from 8.5-months in February. March New Home Sales were even better, jumping 27% from February to the highest monthly rate since last July. This marked the largest single-month increase in new home sales since 1963. The chief economist of the National Association of Realtors (NAR) credited the homebuyer tax credit for the strong March housing data. Buyers must sign a contract by April 30 to take advantage of the tax credit, so the April data should benefit as well.  Remember that Real Estate is All Local, so depending on the area.  Some Areas, doing better than others, but overall we are seeing the market for homes, improving.  Have a Fantastic Day!!

ps: here is a link to one of my properties;

http://link.brightcove.com/services/player/bcpid50176160001?bctid=52196524001                                      

Best Regards,

Christos Papanastasatos

Crown Heights Realty www.

ChristosRealEstate.com

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