Dennis Norman

By: Dennis Norman

According to NAR the $8,000 first-time home-buyer tax credit has brought 1.2 million new buyers into the market – 350,000 of whom would not have purchased a home without the credit.

“Now is the time for Congress to keep this recovery going by extending the tax credit through 2010 and making it available to more home buyers. We have all seen how the credit has been a spur to bring home-buyers into the market, and have seen the beginnings of a real recovery in the housing market. Housing has always led this nation out of economic downturns, and can do so again,” said NAR President Charles McMillan.

Yesterday NAR issued a “Call to Action” to its members, encouraging them to send a message to Congress to encourage an extension of the home-buyer credit.

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