“I only wonder how much of the increase is coming from rising demand from new homebuyers. The tax credit is boosting demand, but what will happen when it goes away in December?”
– Pat Newport, a housing industry analyst for IHS Global Insight, on news of an 11-percent increase in new home sales from May to June. The much-touted $8,000 tax credit for first-time buyers may be contributing to a rise in sales, but buyers should remember that the credit is only good for purchases made within the next 127 days.
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