Pending sales for April 2009 in the $150,000 & Under price range are up for April by almost 12% compared to April 2008. This is great news for the housing market and also means that the $8000 tax credit for First Time Buyers, along with the historic low interest rates, are definitely stimulating the housing market in this price range. Over time this will have a positive effect on the higher price ranges, as sellers will now be in a better position to “move-up” buying more expensive homes, which for now are still selling at rates below sales numbers for 2008.
Other positive data includes signs of price stabilization in the $150,000-$400,000 price range where the average sold price for the first 4 months of 2009 is 99.6% of the average sold price compared with the first 4 months of 2008.
If you have a question about your particular home or market sector, feel free to give me a call at 302-999-6966. John
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