First-time buyers take advantage of discounted prices and low rates!
WASHINGTON - There was another ray of hope Monday for the distressed housing market: the National Association of Realtors said the volume of signed contracts to buy previously occupied homes rose for the second month in a row.
Homebuyers taking advantage of bargain prices, low interest rates and a tax credit for first-time buyers pushed the seasonally adjusted index of pending sales up by 3.2 percent to 84.6 in March.
The results not only beat analysts' flat expectations, but were also 1.1 percent above last year's levels, the first time that has happened since December.
Labels: 2009, first time home buyer, housing, market, mortgage rates, tax credit