Real Estate sales were up considerably in July

We are the Paris911 Team at REMAX of Santa Clarita and we want to keep you on the cutting edge of Real Estate News.  Don’t forget that this information takes into account a market that is very high in Demand and low in Supply.  Santa Clarita Real Estate is our Craft and we will keep you posted.

 

Positive signs for real estate have surfaced yet again, indicating a troubled market that appears to be stabilizing.  July housing statistics are in and have exceeded economists’ forecasts with sales up over 9%.  While the number of sales are down considerably from the peak of 2005, they are up quite a bit from January.

 

The upswing of Real estate sales is largely attributed to the first time homebuyer tax credit which covers 10% of the value of the home up to $8,000. The current tax credit is only good until December 1st and there is a big push to extend the credit. Home builders in particular want to see the credit extended because any projects that are started today cannot be guaranteed finished by the tax credit cut-off date.

 

 

For more information on July’s sales and the current state of the National real estate market visit Yahoo Real Estate.