Home sales are up around the country, according to the latest survey by the National Association of RealtorsÂ®. Sales of existing homes, including single family homes and condos, increased 11.4% in the third quarter. And it could be the extended tax credit had something to do with it.
Â The $8000 credit will continue to be in effect until June 2010. Homebuyers must sign contracts before April 30 and close by June 30. And thereâ€™s more good news: single buyers can earn up to $125,000 (married couples can earn $225,000) and still qualify.
â€œExtending and expanding the tax credit to more buyers through the middle of next year is the right medicine,â€ said Charles McMillan, president of the NAR. â€œCongress understands the impact of housing on the economy, so consumers who arenâ€™t able to complete a transaction before the end of this month now have a second chance.â€
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