Faced with an impending deadline to take advantage of federal home buyer tax credits, home buyers rushed in record numbers last April to sign purchase agreements for homes in the Grand Rapids area. Total sales for the month broke the old record set in April 2004.
According to excerpts from the story:
There were 1,428 homes sold last month, according to the Grand Rapids Association of Realtors -- that's 40 percent higher than one year ago and 60 percent higher than in 2008, which was the bottom of the market downturn.
Real estate agents attribute the increase to the federal tax credit. First-time home buyers could buy a house for an $8,000 credit and existing homeowners were able to get a credit for $6,500.
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