17 November 2009 ?In real estate there are typically three types of buyers: a buyer upgrading to a larger home, an investor, or a first time home buyer. The National Association of Realtors® has come out with new statistics ? 50% of the purchases this year have been in the first time home buyer category. The NAR attributes this impressive number to the first time home buyer tax credit. The credit gives $8,000 to these buyers, which may help to offset the costs associated with moving into a new place. On average, when a home is purchased, the buyer spends $7,500 in the first year on maintenance, decorating or fixing up the home. With the extension of the home buyer tax credit through April 2010, we can anticipate higher sales into next year. This is good news for the economy. This will have a trickle down effect into other areas of the economy that are struggling.Email This Post To a Friend.
With Tax Credit, First Time Home Buyers Make Up 50% of All Sales
November 17, 2009
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