The National Association of Realtors and the National Association of Home Builders are heading a grass-roots lobbying campaign in hopes of getting Congress to extend an $8,000 tax credit for first-time home buyers. The credit expires Nov. 30, meaning many would-be buyers who have not yet found a home and secured financing would be unlikely to close on the deals in time to take advantage of the credit. The perk is being credited with 300,000 to 350,000 additional sales of houses this year.

Related Summaries