Home sales were up 23.5% in the first quarter of 2010 compared to the first quarter of last year (IAR.org)! That is great news! I remember the first quarter of last year, and it was rough. This spring felt a lot better. Buyers were out and about; dual offers were not uncommon; and prices were low, but seemed more solid. Sellers were pricing their homes competitively but staying close to their price when offers came in.
Overall, this spring felt more like a “normal” market. I didn’t feel the crazy buzz of the boom market or the doom and gloom of the bust. It will be interesting to see what the summer brings. The tax credit ended on April 30, so there are fears that the market will slow down dramatically for the summer. So far, I haven’t seen that, but we’ll have a better idea of what’s in store when we see the May statistics.
