The National Association of Realtors has released yet more information about home sales and inventory levels as part of its monthly offering of data.

The news is fantastic and very encouraging for the US as a whole.

Naturally driven by the First Time Homebuyer Tax credit in what was its final weeks, sales showed a huge boost in October.

In fact, sales of single-family, townhomes and condominiums jumped 10.1% to a seasonally adjusted annual rate of 6.10 million units in October, a massive increase of 23.5% above October 2008 and the highest sales activity since February 2007! This increase has lead to a decline in inventory, which fell at the end of October by 3.7% to 3.57 million existing homes available for sale, which represents a 7 month supply at the current sales pace, with unsold inventory totals that are 14.9% below a year ago.

Of course things are expected to level off after such a spike in figures, however now that the tax credit has been extended and expanded, potential buyers have until April 30th 2010 to have a contract in place – this will allow the demand for housing to continue. Particularly with low interest rates continuing – in fact, Mortgage interest rates last month were the third lowest on record, dating back to 1971!

However, locally here in the Midwest, things are even more exciting! Existing home sales in the region surged a huge 14.4% in October to a pace of 1.43 million and are 28.8% above a year ago. The median price in the Midwest was $146,600, a gain of 1.1% from October 2008.

With the local economy holding up well, this comes to no surprise to us here! As well as communities such as Valpo being voted as Community of the Year 2009. Why wouldn’t you want to live here!

With a rapidly depleting inventory, interest rates and affordability at their lowest for over 30 years now is the best and probably last chance to snap up a great home at a great price.

We do understand that moving your family to another town or state is a major event in your life! We have helped many families and individuals relocate to and from the Northwest Indiana Area. Request Our Free Relocation Package. Don’t Move To Northwest Indiana Area Without It! 

Remember – You can use our moving truck for FREE!

As one of the top producing teams of experts in our field both locally and Nationally, our full service team strives hard to make sure your real estate transaction is a truly rewarding experience.

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Northwest Indiana Real Estate using our complimentary Northwest Indiana Real Estate MLS Search service. Alternatively please contact Jana Caudill and the team if you need more specific assistance in your Northwest Indiana Real Estate needs. You can call the office on: 219-661-1256 or email us on: jana@janacaudillteam.com

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