Expiring Tax Credit Drives Up Home Sales

First-time home buyers are scrambling to qualify for a federal tax credit that expires Nov. 30 and has been driving up sales activity after the worst downturn in decades.
Now, the coming expiration will help show if the improvement will last.
The tax credit, worth as much as $8,000, is available to first-time home buyers who close deals by Nov. 30. That means they have only a few more weeks to sign contracts because the closing process can be lengthy.
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