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More People Are Buying Homes

Sonora, CA – Home sales are up over nine percent nationwide from August to September, and the numbers are much higher in the Mother Lode.

The Tuolumne County Association of Realtors reports that 54 sales were closed in September, as opposed to 39 in August. This calculates out to a 28 percent increase.

“I suspect part of the reason is that a first time buyer tax credit is expiring on the 30th of November,” says Ann Ritchie, Director of the TCAR. “I think people are trying to get into homes while they can still use that money.”

The Calaveras County Association of Realtors says that 80 homes were sold in September, compared to 66 in August, equaling a 21 percent increase.

Buyers are taking advantage of the federal tax credit equaling 10 percent of the homes price up to $8,000. Congress is currently debating whether to extend the program.

Written by bjhansen@mlode.com.