Existing Home Sales Moves Up 5.1% in February!

Homes Sold Rise in February

The National Association of Realtors released data this week stating that existing homes sales moved upward 5.1% in the month of February. This is the largest increase since 2003! While overall sales are still down, this is a step in the right direction.

The increase is largely due to the $8,000 first-time homebuyer tax credit. Many first time buyers are taking advantage of this, in combination with the outstanding deals that are out there right now. And with the fed lowering the interest rate, sales are expected to increase as we enter spring.