Home Sales Robust in Santa Clara County Housing Market

SAN JOSE, Calif., Feb. 16 /PRNewswire/ -- Sellers in Santa Clara County continue to benefit from intense buyer demand and lower volume of homes for sale.  

Sellers and buyers closed escrow on 825 homes in January, a 15.06 percent jump over the 717 in the same period last year, according to data from MLS Listings, Inc. Home sales have gone up in month-to-month comparisons for several consecutive months.

"Multiple offers appear to be spreading into most price ranges and neighborhoods," said Karl Lee, President of the Santa Clara County Association of REALTORS®, "We expect buying activity to continue intensifying, because interest rates remain historically low and the April 30 expiration date for the federal homebuyer tax credit is approaching."

In January, 4,234 homes were for sale, a 35.16 percent drop from the 6,530 in the same month of 2009. "Although the number of homes on the market did increase 12.37 percent from December, there still are not enough homes to satisfy the demand," Lee said. "Working with REALTORS® who understand how to get the most out of the market is always the key for sellers."

SCCAOR President Karl Lee can be reached for comments at [email protected] or 408.205.1726.

About the Santa Clara County Association of REALTORS®

SCCAOR, established in 1896, is California's oldest and Northern California's largest real estate association. We represent 7,000 REALTORS® and affiliate members. SCCAOR exists to meet the business, professional and political needs of its members and to promote, protect homeownership and private property rights.

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SOURCE Santa Clara County Association of REALTORS

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