But these increases -- according to a preliminary report, about 17 percent from last June and 24 percent year-to-date -- could represent very nearly the last gasp of the federal government's home buyer tax credit, which expired for new contracts on April 30.
Home buyers originally had until June 30 to close those sales, so the final June sales report should be the last monthly tally to show strong influence from the government incentive, which was worth up to $8,000 for first-time buyers and $6,500 for some repeat buyers.
(A last-minute extension of the closing deadline to Sept. 30 by the federal government means a few more incentive-related sales could dribble in before the October report, but local agents believe the majority of the last incentive-related sales here closed in June).
Out in the field, meanwhile, some local agents say they've definitely noticed a drop in buyer activity since the end of April.
"Showing activity and web activity are lower now," said Dan Miller, a Keller Williams agent who tracks sales figures from the South Central Wisconsin MLS at DaneCountyMarket.com.
"And even though interest rates are the lowest in history, many buyers are shopping at a very deliberate price," Miller added. "This is in sharp contrast to the buyers from March and April who were rushing to make their offers and close on their homes before the tax credit expired."
(Note the Campbell Communications home buyer traffic survey, released June 21, which shows how home buyer traffic across the country has clearly declined since April 30. The survey was based on responses from 3,000 real estate agents nationwide.)
Locally, preliminary figures also show the median combined home-and-condo price in Dane County was up 3 percent in June but down 1 percent year-to-date.
(Article by Karen Rivedal, http://host.madison.com/wsj/business/real-estate/ )
