MoCoRealEstate
Montgomery County Contract Trends
July 10th, 2010 Categories: Market Updates
Last month I summarized the rate of contracts by week just after the federal home buyer tax credit expired. Contract activity soared as the deadline approached, then plummeted the following weeks. My theory: I don’t believe the credit brought many new buyers into the market, but rather encouraged buyers to simply accelerate their purchases. The three most important factors driving home sales are affordability, interest rates and jobs. Right now, all three of these factors are favorable in Montgomery County.
An update of contracts through the end of June is shown below. Contracts have trended up since the beginning of May. As we enter the hot, summer sales season, I would expect contract activity to begin trending down again as it does in a normal (whatever that is) year.
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