Rush Of Closings

Contacts in the real estate business tell me that there is a rush of closings this week and that everybody is extremely busy. Buyers are rushing to close before the deadline for the expiration of the homebuyers tax credit. That likely means that the existing home sales number for June will be a blockbuster. While this is one time in nature, many times the market does not distinguish. Keep this in mind a month from now ahead and after the number.

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