GAAR on KRQE.com
During those three months this year sellers and buyers closed deals on 2,471 attached and detached homes valued at more than $500 million, the association said. The number of homes on the market also is up while the time those homes spend on the market has gone down, according to the association.Part of the sales surge was driven by federal tax credits that now have expired, although other market incentives remain, association President Mark Pando said.
“The income tax credit helped push closed sales during the second quarter, and potential home buyers who would have waited until the summer instead took advantage tax credit which ended on April 30,” Pando said in a statement released by the association. “Now the incentive lies in the historically low interest rates available to consumers.”