Buyers looking to close on home sales in time to collect the homebuyer tax credit pushed existing home sales up in June 5.6% compared to the same month a year ago, according to a monthly survey of 54 metro areas conducted by the national brokerage chain ReMax.
In addition, Denver-based ReMax said home sales prices were up 3.5% year-over-year. Compared to May, transaction volume was up 7.2%. The increases were attributed on the tax credit and said despite the increases, the heightened volume will not be sustained. The chart below tracks transaction volume.
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Survey Finds That Majority Of Housing Markets Are Improving From Last Year
How To Get An FHA Guaranteed
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