Home Resales In West Post 10 Percent Annual Gain

November 24, 2009

in News

Home Resales In West Post 10 Percent Annual Gain

Home sales rose 10 percent in the Western region of the country in October, driven largely by first-time homebuyers racing to qualify for a tax credit that had been set to expire at the end of this month, according to two reports released Monday. Sales in the 13-state region have improved this year, aided by the tax incentive, the data last month benefited from an easy comparison to October 2008 sales, which declined sharply as the U.S. financial crisis worsened. Real estate agents credited lively sales to low mortgage interest rates and the tax credit. Ten major Western metros registered annual sales increases last month, according to The Associated Press-Re/Max Monthly Housing Report, which tallies all home sales in the metropolitan statistical areas. [Read this article]

Leave a Comment