For the last 7 consecutive months existing home sales in the U.S. have lifted off the bottom floor and show no signs of falling back. This October sales of existing homes are up 10.1% which is the highest level since February 2007. Every day more and more people take advantage of the variety of buyer incentives that are driving this demand, as a result we are seeing prices increase. It may be years until we see pricing the way it was before the recession but forward progress is definitely being made. As long as we do not see an increase in interest rates we can expect this upward sales trend to continue through at least June 2010 when the tax credit expires.
Today's home buyers are making strong investment decisions that they will appreciate for years to come. Qualified skeptics however, will forever regret holding out if they let this unique buyers market pass them by. With up to $8,000.00 in tax credits and interest rates under 5% for conventional borrowers, both current and 1st time shoppers "The time to buy is now."
by: Michael Wiener
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