Julie Johnson

Better Homes & Gardens Real Estate | David Winans & Associates

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Time to Buy – Existing home sales begin recovery

February 21st, 2009 · No Comments · Economy, Real Estate

This may be the best time in decades to buy a home. With record low interest rates and very low home prices, housing may just lead the way to our economic recovery. And, it may have already stared.

According to Business Week, in December there was an increase in sales of existing homes. The inventory of unsold existing homes has dropped indicating that existing home sales may be stabilizing. Although, inventory may increase when home owners realize there are buyers out there.

The new stimulus package is offering an $8,000 tax credit to first time home buyers including home buyers who have not owned a home in more than three years. This tax credit and the historically low interest rates should help to keep boosting sales.

Source: Businessweek.com

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