Home sales have seen a reassuring increase this last month, with sales at levels we haven’t seen in three years. Many believe its a sign that federal support has done its job. It is estimated that nearly 2 million home buyers took advantage of the First-time buyer tax credit so far, and its expected that nearly 2.4 will use it in the next year.

According to a LATimes Article, “Sales are now up 46% from the bottom in January, but down 10% from the peak more than four years ago. Sales had been expected to rise to an annual pace of 6.25 million, according to economists surveyed by Thomson Reuters.”

The Obama administration is working to make trial home modifications a permanent transaction rather than temporary.  There has been a lot of talk and ridicule recently of how the banks have handled modifications thus far. In an LA Times article, Assistant Treasury Secretary Michael Barr said, “In our judgment, servicers to date have not done a good enough job in bringing people a permanent modification solution.”

According to reports, about 375,000 of the trial modifications are eligible to be made permanent by the end of the year. The government is pushing for these people to receive the attention they deserve.