Tuesday, October 20, 2009

Pending home sales surge in NE Florida

Pending home sales surged 60.4 percent in September compared with the same time in 2008 and closed sales were up 12.7 percent over September 2008, according to the Northeast Florida Association of Realtors.

There were 1,628 pending sales, or sales that have gone under contract but have not yet closed, in September in the Jacksonville area. There were also 1,297 closed sales during the month, 336 of which were lender mediated sales.

The huge spike is attributed to first-time home buyers rushing to take advantage of the $8,000 tax credit, in combination with low interest rates, according to a news release announcing the figures.

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