June Sees Largest 1 Month Increase in NEW HOME SALES in Over 8 YEARS !

Just released this week was a report from the Commerce Department stating that New Home sales for June 2009 rose by an unexpected 11 percent !!

And while the Spring market usually sees an increase in sales, the percentage of increase this June surpassed expectations.

Commerce Dept spokesmen largely attributed the jump to the 10% up to $8,000 tax credit being offered right now.

That 'free cash' for those who qualify, in conjunction with 'bargain' home prices, and low interest rates, is credited for fueling this push for new home sales.

The news even boosted share prices of the big name builders like Hovnanian Enterprises, and Beazer Homes, whose stock prices rose 8 & 13 percent respectively.

Sales have now risen for three straight months, and many analysts feel that these are signs that the housing market may be starting a recovery !

This is good news ! ... and with the $8,000 tax credit STILL AVAILABLE for First Time Buyers who qualify, the trend could continue through the traditionally slower months of July through September while people wrap up summer vacations and get kids set up in school.

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Sheldon Neal is a Realtor® with RE/MAX, specializing in Homes For Sale in the Bergen County, NJ area.

If you are looking for Bergen County Realtors, call local expert Sheldon Neal for all your Bergen County Buying & Selling needs !
Sheldon Neal ~ RE/MAX REAL ESTATE LTD.
cell: 201-481-2891
email: SheldonNeal@remax.net
website: www.SheldonNeal.com