US Home Sales Jumps to 2 Year High

It appears as if the nationwide housing slide that we’ve experienced for the past 2 years may be coming to an end.  Finally.

According to Bloomberg,

“Sales of existing U.S. homes jumped more than forecast in July to the highest level in almost two years. Purchases climbed 7.2 percent to a 5.24 million annual rate, the most since August 2007, the National Association of Realtors said today in Washington. The gain was the biggest since records began in 1999. The median price fell 15 percent.”

As I’ve said all along, the Rock Hill SC and Fort Mill SC housing markets haven’t been hit as badly as other areas of the country, but we’ve certainly felt the reprocutions.  Now with the national housing market appearing to rebound, I would expect that we’ll continue to see an increase in existing home sales.

There’s still quite a lot of homes for sale, but the pace at which homes are selling has slowly picked up the past few months.  And now with the $8K tax credit coming to it’s end on November 1st many home buyers are scrambling around, trying to find their dream home in order to take advantage of this credit.

So, if you’ve been thinking about selling your home, now’s a GREAT time to put it on the market!

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