The April 30 deadline for homebuyer tax credits of up to $8,000 pulled many sales forward, likely draining activity from the usually heated spring and summer months. Economists say it will take several more months before its clear whether the market can stand on its own or retreats anew after the credit’s demise. New and existing home sales likely were robust in April as buyers raced to beat the deadline for the credit. This would follow a five-month high in pending sales of previously owned homes in March.
Most Popular Articles
The housing market is signaling there will be an economic recession by the 2020 election, according to Benn Steil, director of international economics at the Council on Foreign Relations.
Quicken Loans Mortgage Services this week announced the creation of the role vice president of sales and its appointment of Paul Yatooma to the new position. No stranger to the company, Yatooma has been with Quicken Loans since 2007.