The National Association of Realtors (NAR) said yesterday that the number of home buyers who agreed to buy homes rose 6.7% in April, the most since October of 2001 when it was 9.2%. The biggest jump was in the Northeast where the numbers jumped 33%. Median prices did slide about 15% but NAR attributes the increase in sales to the impact of the $8,000 first time homebuyer credit people are able to receive through November.
Speaking from personal experience, the $8,000 didn’t push me over the edge, but it will be nice to get that credit this year. With prices low, the $8,000 credit good through the end of November and mortgage rates still at historical lows, this is certainly a good time to buy, if you can do it. My advice for those trying to navigate the tricky system? Take a first time homebuyer’s class – the information learned is invaluable. I am taking one now through MassHousing and feel more empowered than ever.
---Alison Thompson is an account supervisor at Solomon McCown & Company. She can be reached by email at athompson@solomonmccown.com
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