Thursday, July 29, 2010

Home Builders Pleased with June Sales Figures

"June's numbers are an encouraging sign that new-home sales are coming back from an expected slow period that followed the expiration of the home buyer tax credit program," said Bob Jones, chairman of the National Association of Home Builders (NAHB. "While we still have quite a way to go on the path to recovery, it's good to see that we are headed in the right direction."

NAHB Chief Economist David Crowe said, "It's worth noting that some of the new-home sales in June were due to move-up buyers who were able to sell their previous home to a tax-credit-eligible buyer while that program was active.  Also, while sales activity is still far from robust, it has picked up some momentum as positive factors such as historic low mortgage rates, great selection and attractive prices help draw potential home buyers back to the market. We anticipate that this momentum will continue along with a gradually improving economy, although other factors such as a critical lack of production financing remain a drag on housing's recovery."

There are plenty of new homes available in Mercer County and surrounding areas, and builders are anxious to find buyers.  Contact me to discuss buying new construction in Hamilton and other communities in Mercer and Burlington Counties.

Joe Giancarli, Sales Associate
Real Estate Advisor
New Home Construction Specialist

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