Although we are still waiting for more good news here in Los Angeles, optimism is in order for the real estate sector as a whole. Today the figures are in and sales of previously owned homes were up 7.4% in November when compared with October. Increases in real estate prices hinge on the number of real estate transactions. Traditionally more sales have equated to higher values, and that is starting to be the case in certain areas of the country. However, don't bring out the champagne just yet as this surge is being attributed to government tax credits of up to $8,000 for first-time buyers and up to $6,500 for repeat buyers.
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