Some good news to report!
Sales of existing homes trended upward for the fourth straight month, benefiting from favorable affordability conditions. The $8,000 tax credit continued to draw in first-time buyers, who accounted for 29% of all transactions in May. Repeat buyers, who often sell their current house to first time buyers, are also coming back to the market in large numbers.
Latest data release: June 23, 2009
Source: National Association of Realtors
KW Research
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