Mt. Hood Sales for May 2010

Here are the seven sales for the month of May in 2010 in the Mt. Hood Area. Two of these homes were foreclosures and finally, a forest service cabin sold!

Now that the Fed stimulous is over there is a major rush to close those deals by the end of June. This may have pushed purchasers into the first half of the year for buying and many experts predict a lag in July and August since many buyers took advantage of that tax credit opportunity. Even though this tax credit was extended into 2010, only one fifth of the numbers seen in 2009 took advantage compared to the surge of sales in 2009. Numbers are weak throughout the US for 2010 with new mortgage applications lagging and new construction sales down by 32% according to Reuters today.