Sales Stay Solid But Will Slow
Friday, February 19, 2010
The pace of existing-home sales in November rose a substantial 7.4 percent, cintinuing a string of solid increases in the closing months of 2009. Looking ahead, sales are expected to ease, with households, no longer concerned about the popular home buyer tax credit immediately expiring, taking longer to buy. NAR’s forward-looking pending home sales idex shows a 16 percent drop in closings in November. Sales should pick up again as the tax credit wids down in mid 2010.
information from NAR’s Realtor magazine -Feb. 2010
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