The Real Deal Miami

Extended credit would boost sales, economists say

September 25, 2009 09:28AM

Leaving the $8,000 federal homebuyer tax credit in place would boost national home sales by 20 percent, according to property research firm Zillow.com. A survey showed that one-fifth of prospective buyers said the credit was a primary factor in their decision to buy, and another 25 percent said it was a significant influence. Zillow Chief Economist Stan Humphries said that could bring 334,000 additional buyers to the table. The first-time homebuyer tax credit expires Nov. 30.