Amazingly enough, the first time home buyer is driving our market sales for the second year in a row. On average, approximately 3/4 of all real estate sales are concentrated in the # 200k - $ 300,000 price brackets. The sales are being driven by the first time home buyer tax incentives, the abundant amount of choices & the historically low price points. I recently compiled sales data for the Warrenton, Oregon market place, where prices remain reasonable & new construction option are in abundance. Following, please find a graph that outlines the sales year to date for fiscal 2009.
Lawrence Yun, NAR (National Association of Realtors) chief economist, said the housing market momentum has clearly turned for the better. " The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of the first-time buyer tax credit," he said.
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