Loudoun Real Estate Blog

Sales existing homes jumped 7.6 percent in April from March according to the National Association of Realtors. In addition, sales were up 22.8 percent from the comparable period a year earlier. Many economists have high expectations for the real estate forecast which is supported by increases in sales and median existing home prices. Lawrence Yun, the chief economist for the National Association of Realtors, stated recently that “the housing price correction appears essentially over.”  However, there are many analysts that say that the increase in sales only happened with the help of a tax credit. They believe the tax credit caused people to buy earlier than planned and takes away from future sales. The next few months of analyzing the real estate market will be interesting.