Home Sales Continue to Increase

Posted by Jeff on September 2, 2009 under Real Estate | Be the First to Comment

The pace of home sales increased again last month.  This is the sixth straight monthly increase this year and provides more fuel to the argument that the housing market has bottomed out.

Low interest rates, increased affordability and the $8,000 tax credit for first time buyers have provided the spark to ignite this stagnant market. Realtors report increased activity at open houses and bidding wars for some well priced properties.

While the inventory of unsold homes is still larger than normal, it is down from the lofty levels of 2008. The market is not red hot but momentum is clearly turning positive