April Home Sales Improve!

Last month, 804 homes exchanged hands in the jurisdiction of the London and St. Thomas ssociation of REALTORS® (LSTAR), including 666 detached homes (up 1.8% from April 2008) and 138 condos (down 26.6% from April 2008). Year to date, 1,840 detached homes and 414 ondos have been sold – down 15.1% and 26.9% respectively compared to the same period in 2008. “April sales have increased by 20% over March – that’s great news, especially in a tougher economy,” says Joe Hough, LSTAR President. The federal government incentives announced in the last budget, including the increase in the maximum withdrawal allowed under the Home Buyers’ Plan to $25,000, and the First Time Buyer Tax Credit, have certainly influenced April’s sales.”