East Bay Area Real Estate- Big Gain In Existing-Home Sales!

For the first time in five years there has been an increase of existing-home sales in the U.S. according to the National Association of Realtors.  Existing-homes are single family homes, townhouses, condos, and co-op homes and the sales rose 7.2 percent.  The first time that we saw sales rise over four consecutive months was back in the summer of 2004 and sales haven’t risen over the previous year since fall of 2005.

I find these numbers encouraging and hope that it is an indication about the market’s overall recovery.  This is probably spurred by a combination of first time home buyers taking advantage of the stimulus tax credit and homes becoming more affordable.  If you have been sitting on the fence about buying a home you need to hurry because if sales continue to climb eventually prices will too.  Remember the old adage, “You know when you’ve hit the bottom when thing come up quickly!”