Home Sales Up Across County

By Staff (Oct 21, 2009 )

With the federal tax credit for homebuyers set to expire in November, Santa Clara County reported 1,307 home sales this September, up almost 20 percent from 1,116 in September 2008 and up 9 percent from August 2009.

Also driving the sales were low prices, fueled by the recession, which contributed to an especially high number of non-owner occupied sales.

Nevertheless, as a sign of the times, foreclosures also remain high, both because financially distressed homeowners are having problems modifying their loans and because in some instances the value has dropped so much that the owners just decided to give them up.
Read More at The Mercury News.