Will We See a Springtime Recovery?

In January, the National Association of Realtors’ Pending Home Sales Index fell 7.6 percent from December to a seasonally adjusted 90.4, which is 12.3 percent higher than January 2009’s 80.5. 

According to NAR chief economist Lawrence Yun the decrease in pending home sales is likely due to the harsh winter weather. Although, January pending sales are higher than the same time last year, they are much lower than expected. The unusually severe winter weather that affected many parts of the U.S., also had a big impact on February home sales.

Yun has also predicted a rise in existing-home sales in April, May and June. With a jump in existing-home sales and sufficient job creation, housing could become self-sustaining with stable to modestly rising home prices.

For more great reasons to by a home in 2010, please click on The Best Time to Buy a Home is Now!

If you have been patiently waiting to buy a Hoboken home, now is the time to do it while the home buyer’s tax credit is still in effect. All of the key factors are in place to ensure that your home purchase will be a major, positive life changing event.  With low mortgage rates available, along with the recent passing of the new tax credits, this is the opportunity you have been waiting for. Please click on tax credit information for more details.  Make 2010 the year you purchase your dream home. For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City.  Eddie can be reached at eddie@InvestHoboken.com or 201-344-2886.

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