Earlier this week, NAR issued a Call to Action asking its 1.2 million members to urge Congress to extend the successful homebuyer tax credit into next year. To view a video about the $8,000 tax credit extension and contact lawmakers who represent your district in Congress, go to NAR’s “Call for Action” website.
WASHINGTON – Sept. 17, 2009 – The White House is considering extending an $8,000 tax credit for first-time homebuyers.
Spokesman Robert Gibbs says the administration’s economic team is evaluating the tax credit’s impact on new home sales and will make a recommendation to the president.
The federal tax credit covers up to 10 percent of the home price, or up to $8,000, for first-time buyers. Home sales must be complete by the end of November.
The tax break is credited with helping the number of U.S. home sales rise slowly. Builders and real estate agents say that trend could be reversed if the credit isn’t extended.
Copyright © 2009 The Associated Press
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