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Old 07-19-2011, 12:53 PM
808 posts, read 2,052,210 times
Reputation: 325



Home sales in Pittsburgh region declined 18.8 percent in June, report shows - Pittsburgh Tribune-Review
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Old 07-19-2011, 01:04 PM
94 posts, read 109,515 times
Reputation: 79
Money quote from the article:

The total dollar volume and number of homes sold were up double digits compared to 2009, when the first-time home buyer tax credit frenzy wasn't happening.

Government tax credits distorted the market which caused some people who would have waited to purchase new houses to purchase them earlier. It's the same thing that happened with cash for clunkers. There was a big increase in new car purchases followed by an equally large decrease right after the program ended. What is important is that home sales are still up over where they were two years ago. I wouldn't worry about this.
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Old 07-19-2011, 02:29 PM
472 posts, read 509,899 times
Reputation: 230
Any negative projections are because of the stricter regulations lenders must follow. Temporary and beneficial in the long run.

Pgh is GOOD.

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