Home sales along the Wasatch Front are up dramatically so far this year, but what happens now that a federal buying incentive of up to $8,000 is expiring?
Certainly, the federal tax credit — along with low mortgage rates — played a leading role in pushing up sales of single-family homes in the first quarter. Although prices continued to fall, sales in Salt Lake County rose by 15.3 percent and condo sales by nearly 27 percent, compared with the same period in 2009.
Exactly how many of the buyers of 1,716 homes and 350 condos that changed hands in the first three months will claim or have claimed the credit isn’t known, but it could have been as high as a third, said Bill Heiner, president of the Salt Lake Board of Realtors, which issued its home-sale report Tuesday.
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