Based on information from the Ann Arbor Area Board of REALTORS® Multiple Listing Service for the period October 10, 2009 through November 11, 2009 November brought a significant increase in residential real estate sales activity, as first-time buyers rushed to take advantage of the tax credit that was scheduled to expire at the end of the month. While the tax credit has now been expanded and extended to April 30, 2010, the earlier deadline helped to spur a 48 percent increase in total sales for November over last year, unleashing a pent-up demand from a large pool of financially qualified renters who were able to become homeowners.
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