In the midwest region, existing-home sales jumped 14.5% in the fourth quarter to a pace of 1.38 million and are 29.9 % above a year ago.
The surge in home sales was driven by buyers responding strongly to the tax credit combined with record low mortgage interest rates said the National Association of Realtors. With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by spring with more areas showing higher prices.
Now is the time to get in on the historically low interest rates and tax credits. Call Scott Breuer Homes today to find out more (763) 441-6044.