Rise in Existing Home Sales in April
News we’ve definitely been waiting for: government reports indicate that the sale of existing homes rose 7.6% in April 2010. Partly due to taxpayers scrambling to take advantage of the tax credit that expired at the end of the month, the flurry of activity contributed to housing sales up over 22% from last year.
What does this mean for the general public? Even if you’re not looking to buy a home, homebuying activity in the economy speaks towards heightened consumer confidence. Lower mortgage rates have also contributed, making loans accessible and affordable for those looking to become homeowners. Consumer confidence plays a huge factor in economic trends, as when consumers lose confidence, we see stock market declines and less money flowing into the economy and hence the resulting economic slowdown. While the equity markets as of late haven’t been anything to write home about, they offer a great time to take advantage of the “buy low, sell high” adage!
When you head out this weekend to stimulate our local economy here in the San Juans, be sure to have a glance at our local events calendar. We keep it updated so you always know what’s going on here in our own little slice of Colorado mountain heaven. If you have an even you’d like added to our calendar, just drop us a line! Have a great weekend and we’ll see you next week here at the San Juan Realty, Inc. blog for the latest in real estate news for Colorado and beyond.
The Staff at San Juan Realty, Inc.
Tags: housing news, mortgage
