Existing Home Sales Spur Interest In Home Improvement

According to the National Association of Realtors, sales of existing homes jumped by 9.4% in September, notching the highest month-over-month increase in two years. Home sales have been spurred in part by first-time homebuyers who are anxious to take advantage of the one-time $8,000 tax credit. The tax credit program, which ends November 1, provides $8,000 to first-time homebuyers who conclude a sale by November 20, 2009.

The National Association of Realtors is lobbying Congress to continue the program, but to date no moves have been made to extend the closing deadline. Some analyst argue that home sales are being driven more by falling home prices and falling interest rates than by temporary tax credits.

Analysts say that the interest in home purchases and what’s largely viewed as an end to the recession will drive home improvement investments beginning in the second quarter of 2010. Consumer spending on home improvement is expected to remain flat in the fourth quarter of 2009 and the first quarter of 2010, but this is typical of home improvement trends, which typically ebb in the winter months.

For home improvement businesses, the predicted uptick in activity is welcome news. If you own a home improvement business and are looking for working capital to fund projects, hire workers, purchase or lease equipment or expand your service offerings, contact Rapid Capital Funding today. Rapid Capital Funding can provide nearly instant cash for your business. Unlike a bank or other lending institution, Rapid Capital Funding can make funding decisions quickly. Applicants can usually receive capital within 24-48 hours of submitting an application.

Don’t wait until recovery comes to the home improvement business. Contact Rapid Capital Funding today and position your home improvement business to ride high in 2010.

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