Existing home sales surge!

Good news!

Existing homes sales in July post their biggest gain in 10 years! Foreclosures made up about 1/3 of these sales. 30% of these sales in July were first time buyers. I'd imagine this surge is all of the buyers trying to take advantage of the first-time buyer tax credit. Well, I know this because I'm out there getting into bidding wars! ;)

If you are on the fence thinking about getting the tax credit before it expires, just know it is getting very competitive out there and homes are getting bid up! It would almost make more sense to wait until the tax credit expires and get a better priced home come Dec. 1st! Just my 2 cents!



-The Twins