Home Sales On The Rise Nationally, Too!
October 30th, 2009 categories: Economic Recovery, For Buyers, For Sellers, Housing Market, Real Estate News
Existing home sales jumped significantly in Chicago during the month of September. Not surprisingly, Chicago was mirroring a national trend.
The sales of existing homes – including single-family homes, condominiums and townhomes – jumped 9.4 percent in September of this year when compared to the same month one year earlier. That’s a significant increase, and provides further proof that the country is in the middle of a housing recovery that’s steadily gaining steam.
The country was on pace in September to see 5.57 million homes sold for the year. That compares quite favorably to the 5.10-million-home pace that the country was on in September of last year.
Existing home sales reached their highest level since July of 2007, when the country was on pace to see 5.73 million homes sold during the year.
Officials with the National Association of REALTORS® pointed to the high number of first-time homebuyers as one reason for the increase in home sales. It’s no surprise, then, that association officials continued their pleas for their federal government to extend the $8,000 first-time buyers tax credit.
This tax credit, association officials said, has encouraged a growing number of first-timers to get off the fence and into the housing market. That’s why the REALTORS® association is hoping that the government will not only make the tax credit permanent, but will extend it to all home buyers, not just first-time ones.
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