The National Association of Realtors reports today that homes sales nation wide rose 6.7 percent in April, that’s up over 3% compared April of 2008. Click here to read the whole article.

Housing affordability and record low mortgage rates have contributed to a surge in sales. Additionally, the first time home buyer tax credit of $8000 was a tipping point for many buyers who may have still been on the fence. And since first-time buyers must finalize their home purchase by November 30 to get the tax credit, greater activity in the months ahead is very realistic.

A recent change in the use of the $8000 credit may also help to generate continued home sales. Last week, HUD announced that qualifying buyers can use the tax credit for closing costs on FHA loans, to buy down the interest rate or to make a larger down payment.  This is a significant change that could really have an impact on the consumer’s buying power.

Pleasanton real estate sales also saw a surge during the month of May. 74 homes went into contract, up significantly from 25 sales in February and 44 sales in March of this year.

It’s easy to let all that negative news out there get you down. It’s alot harder see through all the negativity and focus on the positives that are also out there. Lately, in the real estate world, that is certainly a challenge. But as we’ve talked about many times here, the Pleasanton real estate market is holding up much better than some other markets just down the road from us. With fewer foreclosures and less inventory on the market, Pleasanton’s desirability has endured.

This article, entitled Why I Continue to be Hopeful, from an long time real estate professional highlights some real postives in the current market:

“With the volatility of the stock market of late, there’s understandably some uncertainty about how all of this will impact the real estate market. I’ve had the opportunity to listen to several economists recently, including Lawrence Yun from the National Association of Realtors, and believe it or not, I feel good about what I’m hearing.

Here’s why:

The bottom line is that the situation is manageable and things will improve.

The most recent decline is due to the psychological impact of the stock market.

People are still buying and selling homes, just not at the same levels.

The passage of the “bailout” bill (see Inman News) is a step in the right direction, but it will take time to see the results work their way into the economy.

The volatility of the financial markets is causing many home buyers to pause, but the truth of the matter is that market conditions are ideal for some first-time buyers, move-up buyers and investors.

Recent actions by the federal government are starting to thaw the credit freeze.

We’re starting to see some stabilization in the more affordable markets and markets that are close to major job centers.

Interest rates are at historic lows for conforming and FHA loans and there are a variety of great mortgage options available, despite perceptions to the contrary.

Consumer confidence will take time to rebuild, but in the meantime it’s important to understand that advantageous market conditions currently exist for those who are motivated to buy.

With the end of election season, consumers should be less distracted by political campaigning.”

(Source: Inman News. J. Lennox Scott is third-generation chairman and CEO of John L. Scott Real Estate, a Seattle-based brokerage company founded by his grandfather in 1931.)