Existing Home Sales Rise 8.4% in November in the Midwest!

As reported by RISMEDIA, existing home sales rose by 7.4% in November nationwide and 8.4% locally! Approximately 51% of sales were first time home buyers, trying to take advantage of the first time home buyer tax credit, which was due to expire November 30, 2009. Inventories continue to decline, as buyers take advantage of low interest rates which, on average fell to 4.88% in November, according to National Association of Realtors President, Vicki Cox Golder. "Conditions are optimal for buyers in the current market" she said. "it really doesn't get any better for buyers with secure jobs and long term ownership plans". With the new expanded tax credit for most buyers, 2010 could see a lot more competition for good properties in the new year

Roger Simon

Roger Simon

Residential and waterfront specialist,Associate Broker,Appraiser,
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