Design
Tools
LoadMatch
System
LOFlo
System
Air
Elimination
Circulators
& Pumps
Accessories
for circulators
& pumps
Heat Exchangers
Tanks
Valves &
Controls
Energy
Management
Variable Speed
Web-based
Building
Management
Switch to Residential
Product Navigation
  Where to Buy

What is your zip code?

 
 
  We're Here to Help

How can we help? Please choose a category for immediate help.






 
 

Buyer Tax Credits End, Home Sales Fall


Latest News > Industry News

Feb. 26 — The sale of existing homes fell 7.2% in January and 16.2% in December following expiration of the first round of federal tax credits for homebuyers on November 30.

Yet January sales remained 11.5% above those of one year ago, reported the National Association of Realtors (NAR).

The sales decline, "raises concern about the strength of a recovery," said Lawrence Yun, NAR chief economist.

An $8,000 tax credit for first-time buyers and $6,500 tax credit for repeat buyers has been extended until April 30.

"Activity should be picking up strongly in late spring as buyers take advantage of the tax credit, which is critical to absorb the distressed properties reaching the market and to continually chip away at inventory," Yun said. With fewer homes on the market, especially in the lower price ranges, home prices have begun to firm up, he added, but with big variances across the U.S.