Saturday, February 13, 2010

Home Sales Take Big Fat Leap

Good news in the world of real estate. USA Today Money reports that home sales posted strong gains in the fourth quarter and prices rose nearly 45% compared with a year earlier. They see this as evidence of an improving climate in housing. Yippee!

A reason for the gains? Low interest rates and the first-time home buyer tax credit. "There's a growing body of evidence that the housing market has stabilized," says the chief global economist from the Economic Outlook Group. He thinks that these same factors could further stabilize prices and boost sales. Let's hope he's right!