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Home Sales UP

Homes sales in the West jumped 13.6 percent to an annual rate of 1.25 million in December and are 31.6 percent higher than a year ago.

NAR Housing wizard Yun said the market is actually “underperforming” and hurting the broader economy.

“We’ve added 25 million people to our population over the past decade and housing affordability conditions are the best we’ve seen since 1973, but household formation is much lower than expected,” he said. “Consequently, there is a pent-up demand which could be unleashed with the right stimulus, including a non-repayable home buyer tax credit. The Obama administration and Congress need to move fast to stimulate a spring sales upturn which will help to stabilize home prices and set the foundation for a sustainable economic recovery.”

Want an opportunity in today's real estate market. Click here to see this weeks best foreclosure deals. The link below will open your web browser to see the properties.

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The links with this email will expire 30 days from 1/30/2009.

If you have additional questions or needs please feel free to call or email me.

Sincerely,

David Hoshaw
Broker, CRS, GRI, e-PRO
Weichert, Realtors - Hoshaw & Associates

28009 Smyth Drive Santa Clarita, CA 91355

661-287-4466 ext. 226

david@scvRealty.com

www.scvRealty.com



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