California

The home buyer tax credit appears to be helping the real estate market across the United States. Real estate agents from coast to coast are reporting increased buyer interest, in part due to the home buyer tax credit. Continued low mortgage interest rates is another reason cited for buyers to “get off the fence”.

(NAR) reports that pending home sales for the month of February were up.

According to the NAR, “The Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 8.2 percent to 97.6 from a downwardly revised 90.2 in January, and remains 17.3 percent above February 2009 when it was 83.2.”

A sign of a busy real estate market this spring? Possibly. In our opinion, favorable home prices, low interest rates and government tax credits are certainly encouraging buyers to consider buying this year.

To read more: NAR press releaseLabels: NAR, National Association of Realtors, pending home sales, Pending Home Sales Index

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