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First-time homebuyers leading market back [View All]

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Swede Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-15-09 09:27 AM
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First-time homebuyers leading market back
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In fact, 47% of all Americans who purchased homes this year had not owned one during the previous three years, according to a press release Friday from the National Association of Realtors (NAR). That was up from 41% of sales in 2008 and 36% in 2006.

The tax credit boosted markets by giving first-time buyers a credit of up to $8,000 they could deduct from their income taxes. The credit is fully refundable: Even a buyer who pays less than $8,000 in income tax gets the full amount of the credit back.

http://money.cnn.com/2009/11/13/real_estate/first-timer...
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