The fallout from the tax credit expiration continues to be felt by home sellers, agents, home inspectors, loan officers and appraisers – showings and Pending Sales are both down about 40% versus the same time last year!
This is certainly not surprising – many of the buyers that would have bought later this year had great incentive to make an offer earlier in the year. What remains to be seen is what happens with home sales after this bad hangover is over. When the statistics for the last week of May are released next week I suspect we’ll see the same tepid activity – I know it was pretty quiet in my office last week!
[...] Pending Home Sales Continue DropTwin Cities Pending Home Sales Continue DropWritten on June 8, 2010Last week I discussed the precipitous drop in Twin Cities Pending Home Sales activity. Today MAAR released [...]