Sales are up!

It's all over the news today, I've already heard it on more than one radio news update and seen multiple articles, sales of existing homes are up 5.1% from January to February. So, what does that even mean? New homes built by developers are not seeing the same kind of action, so buyers are focusing on purchasing olders home that they can afford, not the biggest, newest, McMansion in the gated community. All buyers are sticking to their budgets, and taking advantage of the historically low interest rates, the $8,000 tax credit, and the market. As I have said before, we will not be able to identify the bottom of the market until long after it has passed, but this is another sign that it may be now, or it may have been in January and February.