To help boost home prices and sales, lawmakers are considering extending the tax credit and expanding it to all but the wealthiest homebuyers.
While keeping the credit would help lift housing prices, senior economist at PNC Robert Dye says it would only be a temporary effect until the program stopped, as was seen with Cash for Clunkers.
In the Midwest, sales were up by 9.6% to a pace of 1.25 million, which was 7.8% higher year-over year.
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