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NW Philadelphia Sales Are Up For November 2009

December 3, 2009

NW Philadelphia real estate sales are were up for November 2009 compared to a year ago. November 30 was the original deadline for property settlements for buyers to take advantage of the $8000 1st time home buyer tax credit. In NW Philadelphia there were 175 sales in November 2009 compared to 94 sales in November of 2008.  It was the best looking month that we have seen in a while, with a lot of people working over time to get properties to settlement.

Since the tax credit was extended and expanded to include a credit for ‘move up’ buyers,  we can look forward hopefully to continuing sales momentum through the winter months.

While we are seeing some signs of recovery in NW Philadelphia real estate, the overall economic picture in Philadelphia is mixed. According to the Beige Book report of the Federal Reserve there are signs of recovery around the country, but Philadelphia is among those urban areas that are lagging behind.

A really sustainable recovery in the real estate market needs the economy overall economy needs to improve and unemployment numbers need to come down.

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One Comment leave one →
  1. December 11, 2009 8:25 am

    Amazing… very cool issue. I’m going to blog about it as well.

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