Tax Credit For First-time Homebuyers | featured news

The number of homes with tentative buyers reached its highest level in three years in October, as Americans took advantage of a credit for first-time homeowners.

Home sales far exceeded expectations last month, surging to the highest level in two and a half years as first-time buyers rushed to take advantage of an expiring tax credit.

President Barack Obama is set to sign a $24 billion economic stimulus bill providing tax incentives to prospective homebuyers and extending unemployment benefits to the longtime jobless who have been left behind as the economy veers toward recovery....

Unemployed Americans are set to get up to 20 additional weeks of benefits, while new homebuyers' $8,000 tax credit will extend into next year, CNNMoney reports.

The Senate vote unanimously on Wednesday to extend aid for jobless workers and broaden tax breaks for homebuyers and businesses in a bid to breathe life into the struggling US economy.

Signed contracts to buy previously occupied U.S. homes rose for the eighth straight month in September as buyers scrambled to take advantage of a tax credit for first-time buyers.