Assocuiated Press WASHINGTON - Sales of existing homes rose from January to February in an unexpected boost for the slumping housing market as buyers took advantage of deep discounts on foreclosures.
The National Association of Realtors said Monday that sales of existing homes grew 5.1 percent to an annual rate of 4.72 million last month, from 4.49 million units in January. It was the largest sales jump since July 2003.
Sales had been expected to fall to an annual pace of 4.45 million units, according to Thomson Reuters.
Here in Maricopa county sales of existing homes increased by 56%. Over 10 times the increase across the country. Today's low interest rates, investor and home buyers with available cash resources are making this a fast paced real estate climate for all home buyers.
It is my pleasure to assist first time homebuyers, investors and all others interested in purchasing a home here in west valley.
Greetings from the "Valley of the Sun"
Phyllis Borchardt, REALTOR® , e-PRO phyllis@WestMarco-RE.com RealEstate.com, REALTORS® cell 623-521-0790 efax 480-586-2280 "Whatever you can do, or dream you can - begin it. Boldness has genius, power, and magic in it". Goethe 2009 The best time to purchase a home in 40 years! Creating Repeat and Referral Business One Satisfied Client at a time!
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