Home Sales Increase for Third Straight Month in Northern Virginia
July 29th, 2009 Categories: Real Estate News
In a report released yesterday, more homes sold more quickly in the Washington area during the second quarter than in the same period a year ago. The sales of previously owned homes (as opposed to new construction) jumped 3.6 percent in June, the third straight month of increase.
It makes sense – mortgage rates are at an all time low, prices are at rock bottom and first time home owners can look forward to a tax credit as long as they close before the end of the year.
Although home prices remain lower than during a comparable time period last year, there is some sign of strength: in 2008 prices were flat from the first quarter to the second quarter but this year prices jumped 12 percent between the two quarters.
If you want to read more, click here. If you want to talk seriously and start looking at property, call me at 703.927.4554.
Michael
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