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Meanwhile, the NARs chief economist Lawrence Yun reports that there has been a “rush” of first-time “buyers” racing for a chance to jump at the governments housing tax carrot… the result… wealth stabilization for middle class families?
“What we’re witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month, … Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery.”
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- Nationally the index increased 21.2% as compared to September 2008.
- The Northeast region increased 16.9% as compared to September 2008.
- The Midwest region increased 17.8% as compared to September 2008.
- The South region increased 22.8% as compared to September 2008.
- The West region increased 23.7% as compared to September 2008.