Existing Home Sales Rise, Inventories Fall

Today, the National Association of Realtor's announced that the sale of existing homes increased over 6.5% while existing inventories shrank. Lawrence Yun, the chief economist for the NAR stated that home prices are falling and that "It appears some buyers are taking advantage of much lower home prices."

Now this is good news and while time will tell, this could be the beginning of the end of the trough in sales and consequently, falling values. With great interest rates, now IS the time to buy.

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