Due primarily to the $8000 First Time Home Buyer tax credit, sales of existing homes were up 9.4% in September 2009, from 2008. This is great news, even though prices still are falling, because the more people that can sell an existing home, the more can move up and buy a more expensive one, which drives the whole real estate market in a positive way. First time home buyers have had a major impact on 2009, accounting of 45% of all sales so far this year. The reason so many new owners have entered the market is the tax credit, which all in the industry hope will be extended, if not raised, in 2010. http://money.cnn.com/2009/10/23/real_estate/existing_home_sales/index.htm?section=money_realestate
No comments:
Post a Comment