Category Archives: Home Buyer Tax Credits

Home Prices Rose Modestly in Second Quarter 2010

Broadly, across the country, home prices improved modestly in the Second Quarter of 2010. This was true against both the previous quarter, and against the same quarter a year ago. So stated the S&P/Case Shiller Home Price Index, in its latest, June report. Continue reading

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Were the Critics Right?

July’s abrupt drop in existing-home sales produced a wave of concern in the media and in Washington. Talk was rife of a double-dip, housing recession. In truth, the news was neither bad nor unexpected. Hopes had simply been unrealistic. Proponents … Continue reading

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Boston-Area Home Sales, in July, Fell Faster Than Nation’s

For July, existing-home sales in the Boston area plunged 39.2% from the previous month, far exceeding the record 27.2% drop reported nationally by the National Association of Realtors. The cause of the disparity was not immediately apparent. For the year, July sales were down 29.0% in the Boston area, but that was consistent with the Northeast region as a whole. Continue reading

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Did the Tax Credit Push Home Prices Down?

The tax credit certainly worked as intended to bolster home sales. Existing and new home sales, inventories and housing starts all showed big improvements in March and April — all the categories, that is, except home prices, which continued their month-to-month decline in most of the country. Continue reading

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New Home Sales Surge, with Boost from Tax Credit

A newsletter arrived in my in-box, today, with these manic pronouncements: The week ended on the most dramatically impressive new home sales numbers in 47 years. March’s 26.9% increase was the biggest monthly sales gain since 1963, taking us to … Continue reading

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Tax Credits to Expire June 30: Why So Early?

Under the revised terms for tax credit eligibility, a home buyer must enter into a binding sales contract by April 30, and close on the sale no later than June 30, 2010. These deadlines apply to both first-time and repeat buyers. Why, you might ask, are the deadlines so early? Continue reading

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President Obama Signs Tax Credit Extension and Expansion

On November 6, President Obama signed H.R.3548: Worker, Homeownership, and Business Assistance Act of 2009. It extends and expands the homebuyer tax credit. The tax credit highlights are listed. Continue reading

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