November home sales rose nationally by 7.4 percent and are at the highest level in nearly three years according to Lexington Herald Leader today. As expected, the $8000 Tax Credit for First-time homebuyers is being touted as the reason sales have risen so much since November 2008.
Lexington homes sales increase!
NAR’s Chief Economist, Lawrence Yun, says,“We should expect many more potential buyers to enter the market in the months ahead and that hopefully, the market will be self-sustaining by the second half of 2010.”
Lexington Homes have increased in sales 48% over November 2008. With this being said, I believe that we will experience a “surge” in homebuyers after the Holidays. I believe we will see not only first time homebuyers, but buyers that currently own Bluegrass homes, will take advantage of the $6500 tax credit as well.
Becky Locknane
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