Expiring tax break heats up housing market

This weekend could be last chance for some before deal goes away

Thousands of realtors around the nation will step up their game this weekend for Nationwide Open House Weekend. It’s a last minute push to get prospective home buyers to ink a deal and capitalize on a federal tax credit.

Great schools and fancy stainless steel appliances aren’t the only amenities agents will be mentioning while touring homes with potential buyers.

They’ll also be sure to mention that first-time home buyers who enter into a binding contract by the end of the month can get a tax credit of up to $8,000, and existing homeowners are eligible for a credit of up to $6,500.

Realtor Lynne Kelleher works in Bucks County.

Kelleher: Prices are starting to hopefully stabilize somehwat, rates are still really low which is also not going to happen forever. And you combine that with the tax credit and you have a lot of inventory to choose from…i’s not going to get much better than this.

Kelleher says March was one of the busiest months she’s had in more than 20 years on the job.