Tax credit helps home market

The first-time homebuyer tax credit boosts Eugene-Springfield sales 6% in three months.

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Eugene-Springfield house sales rose 6% from July to September thanks to the first-time homebuyer tax credit. Pending sales also increased by 59%.

“I don’t know if we’re bottoming out, but we’re stabilizing. And that’s a really, really good sign,” said Tawfik Ahdab, real estate market analyst at Pacific Valuation Group, publisher of the report. Figures include Eugene-Springfield and nearby small cities, excluding Florence.

Congress, meanwhile, is discussing whether to extend the $8,000 first-time buyer tax credit beyond its Nov. 30 ending date to keep local real estate markets going.

Read the full story at The Register-Guard.

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