Real estate agents nationwide are working seven days a week, builders are staying open late and homebuyers are scrambling to get their offers in as they rush to take advantage of tax credits that expire at midnight today. To qualify, buyers must have a signed contract in hand by the deadline and must complete the deal by June 30. The tax incentives — offered to both first-time buyers and some current homeowners — are fueling a strong spring selling season and helping home prices stabilize. Real estate agents hope the burst in activity, along with the lifting of general economic gloom, will propel the housing market for the rest of the year.
1 minute readHousing sales in a frenzy as buyers try to beat credit deadline
April 30, 2010, 12:33pm
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio