The housing market in the Tri-State appears to have rebounded and continues on the upswing.
The fact that the first-quarter sales of this year have outpaced last year confirms that to be the case, said Chris Dickson, president-elect of the Evansville Area Association of Realtors.
“2010 is a good year for real estate in this area,” he said.
Dickson said the latest statistics from the association shows a 28.4 percent increase in the number of single-family homes sold in Vanderburgh, Warrick, Posey and Gibson counties this past March compared with the number of sales in March 2009.
Pending home sales also appear on an upward surge nationally, likely in response to the homebuyer tax credit, said the National Association of Realtors.
Its March index won’t be released until May 4, but the national association reports sales showed a healthy gain in February.
According to the Evansville Area Association of Realtors, a total of 307 homes were sold in Vanderburgh, Warrick, Posey and Gibson counties last month, compared with 239 sold in March 2009.
The increased activity caps off a strong first quarter, which saw the number of homes sold increase by 11.4 percent over last year’s first quarter.
A total of 650 homes were sold in the four-county area this January through March, compared with 582 sold last year during the same period.
Dickson attributed the increase to historic low interest rates and plenty of mortgage money available from local lenders, even though the requirements for approval are tighter.
He said, “Buyers also are very active now because they need to be under contract by April 30 to qualify for the federal tax incentives.
Read more…