The State of California is beginning to see the light at the end of the tunnel as more people are purchasing new homes. According to the Sacramento Business Journal much of the improvement is because of a $10,000 statewide tax. Check out the text of their article below.
The California Building Industry Association said Monday that the availability of new-home tax credits may have helped boost sales in the Sacramento region and statewide in March.
The association reported figures compiled by Hanley Wood Market Intelligence showed new-home sales in Sacramento during the month were up almost 50 percent compared to February, when 201 homes were sold region-wide. But the total homes of all types sold in the region, 297, was still well below sales of 538 in March 2008.
Since the state credit went into effect March 1, more than 5,600 buyers have taken advantage of the program statewide, which provides up to $10,000 in state tax credits to anyone who buys a newly constructed home or condominium.