Quality Buyers Take Advantage of Stimulus Incentives

Quality buyers are continuing to take advantage of stimulus incentives and favorable affordability conditions as evidenced by increasing sales last month. Exceptionally low home prices and mortgage rates continue to give them more buying power. According to NAR President Charles McMillan, “With the drop in interest rates, a median-income family can afford a home costing $20,000 more than a year ago for the same monthly
mortgage payment.”