Talk about a turnaround. Following an all-time low in February, national new home sales shot up 27% in March, the biggest increase in any month since 1963. Sales in the South jumped 44%
South Florida sales of existing homes and condominiums were especially robust last month.
Much of the activity here and across the country can be attributed to buyers taking advantage of $8,000 and $6,500 tax credits that expire April 30. Sales likely will drop off after that.
But with continued low interest rates and cheap home prices, momentum is building for a housing bottom this year.
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