The 3rd quarter of this year showed that more than 70% of homes sold were considered to be affordable and therefore now is a good time to buy. The affordability of homes along with the $8000 home buyer tax credit helped to drive many home buyers into the market last quarter.
The President and Congress extended the original Nov. 30 deadline for the Federal tax credit which will continue to help stimulate the housing market. As reported by the National Association of Home Builders, a typical American family with the average median income could afford to buy 70.1% of all the homes sold in the U.S. during the 3rd quarter of this year which is quite a leap from the 56.1% in the third quarter of 2008.
So with the extension of the “new home buyer” tax credit of $8000 along with the $6500 “existing home buyer” tax credit, the outlook for continued affordability of homes is looking good. Now is the time to buy!
Posted By: 
Jeff Barnett
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