The American Spectator : AmSpecBlog : Housing Looks a Little Overstimulated

The American Spectator : AmSpecBlog : Housing Looks a Little Overstimulated:

But they had risen dramatically in the previous months. What explains the difference? The first-time home buyer tax credit, a stimulus measure, expired at the end of April. People who were planning to buy over the next few months rushed their schedule to take advantage of the offer before it ran out. As a result, sales spiked in March and April and cratered in May, because by that time many of the people who were planning to buy houses had already done so to take advantage of the credit."