Weekly Market Update – Sales in High Gear

 

Here’s what MRIS reports today: 

“As the November 30 expiration of the federal tax credit for first time buyers looms, sales activity in the MRIS region kicked into another gear for the week ending September 5.  Pending sales for that week were up 48.5 percent over the same week a year ago.

Over the last three months there have been over 7,000 more pending sales than during the same period in 2008.

New listings are still trailing last year’s pace, but not at the same clip we’ve seen over the summer. For the most recent reporting week there were only 3.9 percent fewer new listings than there were last year, an indication that relatively more sellers are attempting to take advantage of the increased buying activity.

For the past several months there have been double-digit percentage declines in new listings.”

Contact us today for a free home valuation or buyer counseling session!  And remember, there’s no time like the present!  The $8,000 tax credit expires on 11/30/09 – There’s still time!

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