Pending Home Sales Increase 3.7%, Ken Dooley, Conlon Real Estate.
Tuesday, December 1, 2009 at 9:36AM December 1, 2009: The National Association of Realtors today reported Pending Home Sales increased 3.7% in October over September and up 32% year over year for the same period in 2008. The year over year increase is the largest increase in Pending Home Sales on record. The index measures contracts signed in the month of October but not yet closed. The index is now at it's highest level since March of 2006.
The $8,000 first time buyer tax credit coupled with low interest rates and favorable FHA financing encouraged buyers to move off the sidelines and enter the market. First Time Buyers that missed out now have a second chance to avail of the $8,000 Tax Credit once a contract is signed by April 30, 2010 and closes by July 1, 2010. Current Homeowners can now also avail of a new $6,500 Tax Credit.
For more information, call Ken Dooley, Conlon Real Estate at 312 305 4919 or Contact me via email