Real estate: Chicago-area home sales take off [USA Today]
Chicago-area homes sales are up more than 45% from a year ago. Low prices, low mortgage rates, and the federal first-time home buyer tax credit have all contributed to the upswing in the real estate market. In March, home sales were 45.4% higher than in March 2009. The tax credit helped stimulate the housing market, but after it expires this week the future of real estate will depend on employment, economic stability, and interest rates.
Prime price points, the state of the local economy, and the desire to move to popular neighborhoods have also spurred potential buyers to close the deal on new homes. Read more about this story at USA Today.
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