Sales of existing U.S. homes jumped more than forecast in July to the highest level in almost two years, signaling the housing crisis that crippled the world's largest economy is easing. Purchases climbed 7.2 percent to a 5.24 million annual rate, the most since August 2007, according to National Association of Realtors.
'Cash for Clunkers' definitely helped sell cars and the First Time Home Buyer Credit has helped boost real estate sales, the problem is that this program ends Nov 30, 2009. You can expect a surge of closings at the end of November. Based on current experience, lenders and goverment agencies keep changing their rules to have a successful closing. The Resource Group urges sellers to price your home correctly to take advantage of this surge and buyers to not wait until the last minute.