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Pending sales rising

The following is an excerpt from the Associated Press: 

Tentative signs of life are appearing in the long battered U.S. housing market.

Thanks to historically low mortgage rates an deeply discounted prices, homes in much of the country are now the most affordable in decades.  First time buyers are now able to take advantage of a new $8,000 tax credit that runs until December 1, 2009.

The National Association of Realtors said its index of signed sales contracts for previously occupied homes rose 2.1 percent to 82.1 in February from January’s record low of 80.4.  Existing home sales rose 5.1 percent in February, the largest increase in nearly six years. Sales of new homes, meanwhile, rose 4.7 percent that month from January’s record low.

This entry was posted on Monday, April 6th, 2009 at 6:51 am and is filed under Buyers, Market Trends. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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