Tax Credit For First-time Homebuyers | featured news

A 3.8% increase in April compared with the same period last year is the third straight month of appreciation but analysts say prices are likely to drop again with the end of the tax credit. L.A., San Diego see gain of 0.7%.

Home prices in 20 major cities gained ground for the third consecutive month in April when compared with their year-earlier levels.

Sales of new homes dropped a record 32.7 percent in May to the lowest level in at least four decades as the boost from a popular tax credit faded, adding to worries of a slowing economic recovery.

Sales of previously occupied homes dipped 2.2 percent in May, suggesting government home-buying incentives are winding down earlier than anticipated.

Extending the homebuyer tax credit won't avoid a possible double-dip, only delay it.

New home sales soared in April as homebuyers rushed to claim the tax credit that expired at the end of the month.

Home prices rose in nearly 60 percent of U.S. cities in the first quarter of this year, as the housing market started to stabilize thanks to billions of dollars in federal spending.

Just ahead of Tax Day, President Barack Obama is urging Americans to take advantage of tax credits for first-time homebuyers, college students and others.

The wobbly housing market is showing a rare sign of strength: pending home sales were up significantly in February, a report released Monday said, suggesting that Americans took advantage of a tax credit for home buyers.

A forecasting gauge of existing-home sales rose in December, suggesting the housing market is steadying after sharp swings caused by a government tax credit.

Sales of previously occupied homes took the largest monthly drop in more than 40 years last month, sinking more dramatically than expected after lawmakers gave buyers additional time to use a tax credit.