The National Association of Realtors has reported the homes sales for existing homes has increased 4 months in a row.
In an article published August 21 titled “Strong Gain in Existing-Home Sales Maintain Uptrend”it was stated that existing homes sales have shown an increase in sales for 4 months in a row. This is in line whith what we have been experiencing locally in the East Bay. This is in line with a few recent blog postings about the San Ramon Real Estate Market and the Danville Real Estate Market. We are also seeing a strong desire for bank owned homes because of the perceived low cost of these homes. In fact the low inventory levels of these homes coupled with the high demand has created a virtual feeding frenzy where multiple offers and “Over Asking Price” offers are becoming the norm. Time will tell if this trend continues but as of now the markets have become quite strong. Also, the first time home buyer tax credit has definately help buyers decide that now is the time to buy. This tax credit, unless Congress extends it, will expire on November 30. So time is of the essence if you would like to take advantage of this wonderful incentive.
