The Greenville Buzz...Always "Bee" in the know.
Hello All!
This morning I was reading my blog subscriptions as I do every morning and ran across this article from Realty Times. I thought it was a Positive article about the real estate market for a change, so today I thought I would share the good news with you.
Market Conditions by Realty Times Staff
The National Association of Realtors Pending Home Sales Index shows that home sales are up for the 3rd month in a row.
Lawrence Yun, NAR chief economist, said buyers are responding to very favorable market conditions. "Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market," he said. "Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers."
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it was 87.5.
"The market has already bottomed in some areas, but this is an unusual housing cycle with some areas improving rapidly while others languish or decline," Yun said.
Published: June 3, 2009
Susan Parker
Parker Realty Group/Prudential Prime Properties
252-341-6444 cell
252-355-0303 office
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