Tuesday, December 22, 2009

National existing home sales up 7.4% in November, 30 year fixed rate at $4.88%...Woot!

A "manor" for sure in Ravenswood Manor, Chicago looks stately on crisp early winter day.

I don't post a lot of national statistics, but the first time buyer's tax credit from Uncle Sam helped turn in another good month of homes sales. November was up 7.4%, Midwest region home sales were up 8.4%. If anything, the media attention on the market woke people up to home prices and great mortgage interest rates (30 year average at 4.88%). I feel left out! As I've mentioned, there were two opportunities I pitched to my wife this late summer and fall... a two-flat in the neighborhood and a single family home in Wilmette. No dice. She ain't moving into a renovation project until the kids are older and can live a Grandma's for a summer. Still wish I got that two-flat.

I digress...

Read the story here from CNN Money on the latest national home sales statistics.

My team is busy advising sellers to take advantage of the upswing we expect in the next 5 months and get on the market... if they need to sell.

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