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Existing Home Sales Up!
In the face of much economic uncertainty, there was good news on Monday, Feb. 2 from the National Association of Realtors which reported existing home sales up 6.5% nationwide! This unexpected turn of events was largely a result of strong performance in the West where sales jumped 13.6% as buyers take advantage of price declines. Couple better sales (demand) with fewer listings (supply), interest rates at historic lows and the possibility of a stimulus designed to target housing, and that’s a recipe for an improving market. No on knows what happens next but I see reason to believe we’re on our way up from the bottom. One thing I do know for sure is how grateful I am to call
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