NEWSThu, Jun 03Tax credits fuel 6 pct. rise in April home salesA rush of homebuyers aiming to meet a deadline to qualify for a federal tax credit pushed the number of signed sales contracts to the highest level since October 2009. The National Association of Realtors said Wednesday its seasonally adjusted index of sales agreements for previously occupied homes rose 6 percent in April from a month earlier to a reading of 110.9. March's reading was revised upward to 104.6. The rise marked the third consecutive month of increases, all of them aided by federal tax credits of up to $8,000.But the tax credits expired on April 30. Many analysts expect sales to drop in the coming months. |
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