So the $8,000 tax credit was put in place to help stimulate the economy and help home sales.  It looks like it is working.  During the last year there have been more first time home buyers than ever before.  The National Association of Realtors reports that ”the number of first-time home buyers rose to 47 percent of all home sales from 41 percent of transactions in last year’s study, and was the highest on record dating back to 1981. The previous high was 44 percent in 1991.”

For those of you that own a home hopefully this $8,000 tax credit will help keep home prices stable and help keep home sales moving.   For those of you that are looking to buy a home and take advantage of low prices & low interest rates remember the first time home buyer tax credit expires the end of April 2010.  Also, remember it doesn’t matter if you buy a home in Murray, buy a home in West Jordan, or buy a home in Salt Lake, you are eligible for this tax credit.  To check out more info about this article I have attached a link.    http://www.realtor.org/press_room/news_releases/2009/11/survey_record

Tags: $8, 000 tax credit, First Time Home Buyer Tax Credit

Posted on Friday, November 20th, 2009 at 3:43 pm and is filed under Buy a House, First Time Home Buyers, Housing Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.