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Old 12-01-2009, 05:51 PM
 
220 posts, read 1,006,732 times
Reputation: 170

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Home sales contracts soar in October

National Association of Realtors index spikes 32% as buyers take advantage of first-time homebuyer tax credit.

That's the biggest year-over-year gain in the history of the index.

In October the National Association of Realtors recorded an unprecedented ninth consecutive month of increases in the number of signed contracts.

Sales contracts soared in October - Dec. 1, 2009
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Old 12-01-2009, 08:13 PM
 
Location: St. Augustine Area
118 posts, read 391,626 times
Reputation: 37
Great news. Hopefully now sellers will stop feeling the pain of home value decreases and start building equity again.
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Old 12-02-2009, 10:02 AM
 
5,458 posts, read 6,485,758 times
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Increased volume doesn't mean increasing prices. There's a lot of excess inventory to work off before that can happen.
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Old 12-02-2009, 10:14 AM
 
Location: Anderson, SC
181 posts, read 391,173 times
Reputation: 180
While on the surface this sounds great, you need to examine things on a local level. Looking at the local market and the type of property and the price range it is in are very important to getting a better idea of how things might affect you as a buyer or seller. Even local economic situations can have a huge effect, such as the closing of a large employer, or the news that a new employer is locating in your area.

National trends are important, but knowing the lowdown of the local market is more important.
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Old 12-02-2009, 11:40 AM
 
1,742 posts, read 2,984,450 times
Reputation: 1936
So true Mark, in my zip there 171 resale homes and 179 foreclosures. In 2010 alot of homes will sell but with the 800 billion in arms readjusting there will be another HUGE wave of foreclosures. Not a pretty picture. RP
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Old 12-04-2009, 11:00 AM
 
220 posts, read 1,006,732 times
Reputation: 170
Looks like job losses is about to go positive

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