New home sales nationally have jumped 26.9% in March over February 2010 after a four month slow-down over the winter season. This can be considered evidence that the first-time home buyer and repeat home buyer tax credit have sparked the real estate market. The credit's are set to expire on Friday, April 30th.
Sales numbers are expected to show an even greater increase in April due to a rush of buyer's hoping to take advantage of the credits before time expires. The Standard & Poor's index of 12 of the largest builders showed an increase in stock prices of 11%. The report also showed that previously-owned home sales rose 6.8% in March.
Hopefully, America can get the job market back on track to create more solid growth through 2010 and beyond. Overall, the housing market should stay active through the summer season, as traditionally it is the peak season for sales. The summer is ideal for moving weather conditions, as well as an easier transition for children entering new schools. There is a nice inventory out there and we have some of the lowest interest rates in history, so if you've been thinking about purchasing, there is no better time than now!
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