Take a look at June’s stats for the Tri-Cities real estate market. You’ll see a marked uptick for real estate business that month. Remember, May showed a precipitous decline in homes under contract, because the tax credit expired April 30th. June CLOSINGS were phenomenal because until Congress extended the closing deadline, all of those deals put together by the end of April had to close by the end of June.
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What June’s “under contract” table shows is that people are still buying houses. In May, it was almost as if everyone took a deep breath and…held it! The number of homes that went under contract in May was more like what we see during the winter months, not the sunny, not-too-warm-yet spring we experience here in the Tri-Cities. June, however, brought us back far closer to a normal early-summer number.
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Phew!
The good thing about doing a stat post so late like this is that we won’t have to wait so long to see if July reflects the trend I think began bubbling up in June!
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