Federal Tax Break, Sales are UP!
Published On: June 28, 2010
The Federal tax rebate program for home new and existing home buyers is scheduled to end on June 30th. Existing contracts will have to close by that date. The date is proposed to be extended but congress has not granted the change. No new contracts may be made under the program; only contracts initiated prior to April 30th may still close by the end of June and be eligible for the tax rebates.
Illinois home sales were up 27.1% in May, the ninth straight month of volume increases. The median home price rose a slight 0.6% but at least that is the right direction. Home sales are still a Buyer's Market.
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