Home Sales, Tax Credit For First-time Homebuyers | featured news

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

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

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.

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.

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.

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.