1. The Consumer Confidence Index improved 14% over the low in February. I have said for a year that confidence, more than anything else except affordability creates housing demand. Both measures are excellent today.
2. Nationally and locally, resale inventory is dropping(5% in the Phoenix metro, I’ll post June 1 with more detail on Sun City Neighborhood and surrounding communities.)
3. Buyers are now starting to chase listings, some homes for sale are getting multiple offers.
4. The Canadian dollar is still enjoying an advantageous exchange rate.
5. Last, but certainly not least, HUD has announced a rule that will allow FHA lenders to CREATE programs using the $8000 first time buyer’s tax credit for down payment and closing costs on FHA loans. This will be in the form of a bridge loan. Details are sketchy at this time, and each FHA lender will be creating their own programs. Be sure you and your agent investigate carefully.

Jim Little, your Sun City Neighborhood REALTOR®