Results of the First Time Home Buyer Tax Credit in 2009
As you know by now, the First Time Home Buyer Tax Credit has been extended until April 30th, 2009 and also expanded to include some home owners selling their home and buying another. So what are the results that the credit passed last year had on the overall market? Let’s take a quick look at the stats:
- According the the IRS, about 1.4 Million people have taken advantage of the Credit.
- California was #1 in number of people filing to receive the credit – approximately 160,785.
- Texas was #2 with 131,472, #3 was Florida with 105,865
- While Alaska and Wyoming had the fewest number of claims
- From a “Per Capita” perspective, meaning the percentage of people in that state the numbers are different
- Nevada was #1, Utah #2, and Arizona #3
- An overwhelming percentage of buyers said that the credit was the main driving force in their decision to buy
- 10% of buyers said it was the only reason
Watch this market update video for more information.
