The data collected by NYSAR for 2010’s second quarter shows 24,327 closings of single family homes, a drastic increase of 71% from the first quarter. The month of June was of particular note with 11,230 homes sold, a new monthly record. An increase in June sales was expected as a result of what was to be the original closing deadline for the First Time Homebuyer Tax Credit of June 30th, this deadline has since been extended.
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We expect the next quarter will not be as fruitful as the last quarter. The First Time Homebuyer Tax Credit was most definitely the catalyst for the record second quarter but there still seems to be a lot of activity. The fact that current Interest Rates are still at historically low levels is no doubt one of the reasons why.
Of course, statistics don’t tell the whole story. There are many different factors that go into properly evaluating the market conditions that pertain to your particular situation. If you’re interested in buying or selling Ulster County Real Estate please give me a call. I’ll be happy to provide you with the data you need to help you make an informed decision.
Edwin J. Maldonado, ABR, GREEN, GRINYS Licensed Real Estate Broker-AssociateMurphy Realty Group / 845.338.5252