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Dane County Housing Market Statistics - 2nd Quarter
So what does this really mean? Does it mean that homes will continue to sell at the rate that they are? Not necessarily. The First Time Home Buyer Tax Credit encouraged the majority of first time buyers to make their offers and close on their homes prior to June 30, 2010. While there are still first time buyers in the market who missed the tax credit deadline for whatever reason, the increase in home sales seen in 2009 between Q2 and Q3 (once again, bumped by the original tax credit bill) will most likely not be seen this year.
The good news in this equation is the decline in unemployment in Wisconsin. Hitting 7.9% recently, down from over 10% just as of January 2010, we will hopefully see increased consumer confidence. It's not just about people having jobs, it's about people feeling comfortable enough with the economy to make a move. You wouldn't believe how many people tell me, "Well, I would love to sell my home and buy a larger/smaller/more modern/more central/less central home.......but I just can't imagine making a move at a time like this!"
An interesting theory out there is that the relocation buyers from last ... more
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