Some welcome news appeared recently that could indicate that the nation’s struggling housing market is beginning to recover. The National Association of Realtors reported that February home sales rose an unexpected 8.2 percent during a period when many real estate analysts predicted home sales to remain flat. Many cited the impending expiration of the homebuyer’s tax credit program as the driving factor behind the jump in home sales, and it remains to be seen whether the positive trend will continue or not. In addition to the tax credit program, economists cited an influx of foreclosed homes into the housing market at bargain prices as a contributing factor to the spike in home sales. Even in regions such as the South and Northeast, which experienced inclement weather in February, saw unexpected gains of 9 percent. While the rise in home sales surprised and delighted many real estate professionals, their enthusiasm was tempered by the current reality of lower overall home prices, month after month of sluggish home sales and historic mortgage default rates that appear to be worsening. “I don’t think we’re in for a further slump, but I think the recovery is going to be slow and painful,” said Michael Carliner, a visiting fellow at Harvard’s Joint Center for Housing Studies. “The risk that the bottom is going to come even further out of the market is easing.” If you’re thinking about taking advantage of low prices on Louisville homes for sale for your primary residence or an investment property, visit our website or call today at 502.744.9504 to view the area’s most complete selection of residential and commercial Louisville real estate. We offer a wide range of real estate services that we can tailor to your needs. Resource link: http://www.nytimes.com/2010/04/06/business/economy/06econ.html?8au&emc=au