Home Sales up 10%

Home sales nationwide are up 10% which is proof that the tax credit extension is working, at least for the time being.

Unfortunately there is lots of concern that once this tax credit goes away next spring and the 5 year arms start to reset next year that we’ll end up in a deeper hole than we have been in yet.

Foreclosures have hit 300,000 per month for the 8th straight month nationwide and the hardest hit states are still California, Nevada, Florida, and here in Arizona.

Related posts:

1. Arizona Foreclosure rates up in May — No surprise here!
2. Arizona has 3rd highest foreclosure rate…
3. Bank of America planning to proceed with foreclosures..
4. Arizona Foreclosures up there but Vegas hit hardest
5. 1 Million Foreclosures in 2010