U.S. Commerce Department officials said Monday that new home sales jumped 11 percent last month. That’s better than analysts expected, and this marks the highest increase in 9 years for new homes. Expectations for last month were to have 360,000 sales, but luckily expectations were surpassed with 384,000.The federal first-time homebuyer’s $8,000 tax credit and low interest rates have really helped to boost the somewhat struggling real estate market. Locally here in Charleston, June is typically one of the busiest months for the year, so any increase across the country is welcomed with open arms. This may help an otherwise potentially difficult winter. To see an increase like this across the country shows signs of growth and encouragement. David Resler, chief economist at Nomura Securities went on the record saying, “The worst of the housing recession is now behind us.” We can only hope for this to be the case.
The National Association of Realtors also stated that existing home sales rose for 3 straight months, which hasn’t happened since early 2004. Posted by Mike Ciucci on
It seems that maybe we are on the brink of some scale of recovery. Good Blog
Posted by Myrtle Beach Real Estate on Wednesday, August 26th, 2009 at 2:41pmIt certainly looks like we are moving towards the upside for a change. Alittle at a time but very encouageing.
Posted by Pawleys Island Real Estate on Tuesday, October 6th, 2009 at 4:09amLeave A Comment