The Real Estate Association of York and Adams Counties just released the year to date sales statistics.
"The REALTORS Association of York & Adams Counties (RAYAC) reports that a total of 241 homes were sold in Adams County in the first five months of 2010, an increase of 17% over 2009 sales. In York County 1,562 homes were sold through the end of May, a 17% increase over last year. The median sales price in Adams County was $180,000, a 7% decrease from last year. In York County the median sale price was$149,000 reflecting a decrease of 4%."
Home sales have been higher than year-ago levels for 11 straight months in York County," stated Kraig Hursh RAYAC President. Hursh added, "The upswing in May sales was expected because of the tax credit, and the pace should remain elevated in June. Since the tax credit has expired other factors are supporting the market now. There is a return of buyer confidence with an increase in home sales, and mortgage interest rates that remain historically low."
Personally I'm happy to see the increase in volume over 2009. However, prices are still falling despite historically low interest rates and the first time buyer tax credits. Part of the motivation behind the tax credit and the governments control of interest rates until the end of April was to help maintain home values. The Tax credit is all but over and rates are back in the control of private investors. I hope that without these two factors that home values are able to remain stable.
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