News for First-Time Homebuyers The sales of residential homes are at their lowest, forcing the government to take action to try to restore consumer confidence. The poor economy in America is having a significant effect on the number of new homebuyers. Job growth, most experts agree,relate to home sales, and both indicators have been on the decline for the last six months. The Government Housing Group, which is responsible for homeowner policies, predicts that low home sales will continue in most regions of the United States. The number of homes on the marketare continuing to fall, dropping to 3.44 million, which suggests sellers are hesitant to put their homes up for sale. If the federal tax incentives that the government administered work , people may begin to gain confidence in the housing market. Additionally, after April, when tax rebates are given to consumers, the GHG hopes to see slight improvement in home-loan activity.

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Answer The news for firsttime homebuyers paints a picture of a challenging housing market affected b... View the full answer