Home Sales Jump 2nd Month
November 23, 2009 by admin
Filed under Home Resales, Positive Real Estate
Home sales surged for the second month in a row in October, climbing to the highest level in 2½ years as first-time buyers rushed to take advantage of an expiring tax credit.
Home sales nationwide are now up nearly 37% from their bottom in January, data Monday showed, though they are still 16% below the peak in autumn 2005. At the current sales pace, there is only a 7-month supply of homes on the market and in some areas there are bidding wars.
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