2010 Home Sales May Rise 15 Percent

Home sales will increase 15 percent to a potential of  5.7 million units and REALTOR® income will be up 20 percent in 2010, according to NAR Chief Economist Lawrence Yun.

The home buyer tax credit brought in up to 400,000 first-time buyers into the market who would not have bought otherwise. This created smaller inventories of starter homes and helped reduce households’ fear over further price drops.

Yun also says that the supply of homes will stabilize to the typical norm of six to seven months. Homes above $500,000 will remain elevated in the short term future, but it will also be offset by a big drop in starter-home inventories.

For more information on the credit to help homeowners, visit the Homebuyer Tax Credit site

For more great information go to Look What $334,000 Buys You in Hoboken.

As a top Hoboken REALTOR, I can help you through the entire process of buying your first home. If you are looking for assistance in finding the perfect home in Hoboken, contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.

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