Ever think that the number 84.2% would mean much?

It has it's fifteen minutes of fame today. It represents the percent of month-to-date transactions in the Hillsboro Remax office that are (probable) first-time buyers. This means houses priced under $300k (usually a lot less) and where the $8k tax incentive is a factor.

A representative from Fidelity Title Co. said there is some trade-up business going on, where more expensive homes are moving, but there's darned little of it. But that's better than it has been.

Also, purchase transactions leaped ahead of refinance transactions at Fidelity. It could mean that the unsold inventory is getting absorbed, albeit slowly.

Or it could mean very little. Trends take a lot of time to determine.