Great news for the real estate market

Today is the last day for first time home buyers and move up buyers to get under contract for the tax credit. It is definitely chaos out in the real estate field today! I look forward to hearing other Realtor stories of how hard they worked for their buyers to get their clients under contract for the tax credit. This tax credit has pushed all buyers and made new home sales jump. The U.S. Commerce Department announced Friday that new homes sales rose 27% in March compared to February. Isn’t that wonderful for our sellers, builders and buyers?  The U.S. Commerce Department said that is the greatest rise in sales since April of 1963. On top of that, the National Association of Realtors reported last week that previously owned home sales rose 6.8%. This is all excellent news for the real estate market! If you are needing to buy or sell, this is the time, plenty of market options with rates as low as 5%.