Wednesday, February 03, 2010

Contracts to Buy Homes Inch up in December

On Tuesday, the National Association of Realtors announced that the number of people preparing to buy a home rose slightly in December of 2009. Many are considering this a positive sign for the upcoming “spring home buying season.”

The National Association of Realtors said Tuesday its seasonally adjusted index of sales agreements rose 1 percent from November to December to a reading of 96.6. That was a bit lower than the 97.1 level analysts expected.

The index has risen for nine out of the past 10 months as buyers work to take advantage of an $8,000 first-time homebuyer tax credit.

The credit had been set to expire Nov. 30 before Congress extended it to April 30. Lawmakers also added a $6,500 credit for current homeowners.