Coconut Creek Real Estate: Existing Home Sales Still On The Rise In March

The National Association of Realtors (NAR) announced that number of pending sales contracts on existing homes has risen yet again in March, making it the second month in a row this has occurred. This is great news for the housing market as it is yet another indicator that it may have finally reached rock bottom. Homebuyers are taking advantage of today's bargain prices, low interest rates, and the first time buyer tax credit which is breathing new life into the housing market.

Although the numbers sound promising, the fact is that it is going to take many months of increased sales to completely rehabilitate the housing market. Right now, NAR estimates that about half of existing homes being sold today are foreclosures and short sales. Also, there are tens of thousand of homes that are currently in foreclosure proceedings that will eventually be up for sale. This is an indicator that home prices will most likely continue to fall but at a much slower pace than we have been seeing. Even with continued deals in housing, there are some other factors that may hamper future sales, job loss being one of the most prevalent. For the economy to bounce back, the housing market needs to see an upswing so if you are ready to buy, now is the best and most important time ever.

It truly is the perfect time to be a buyer in the housing market. The deals you can get today won't last forever and you certainly don't want to miss out on a great buy. If you are even considering buying a home in Coconut Creek, you owe it to yourself to contact me to discuss your purchase options. You will be very glad you did!