Seems to me that this is a positive sign and things are getting a little better. However, before getting too excited it’s important to understand that these statistics are based upon an expiring tax credit.
Once the deadline passes we should get a better picture of what’s really going on in the real estate market. Check back in six months and survey the economy then.
Meanwhile…
Only a 7-month supply of homes on market; bidding wars are erupting
From the Associated Press about an hour ago…
“Home sales surged for the second month in a row in October, climbing to the highest level in 2 1/2 years as first-time buyers rushed to take advantage of an expiring tax credit.”
Read the whole story here.
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