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Good News: Home Builders Nab Tax Credit
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A new tax credit for first-time homebuyers is offering some soft padding for an otherwise murky week in the housing sector.
Shares of some housing stocks rallied on Friday, after the government announced that thousands of first-time homebuyers can receive a new $8,000 tax credit before they complete their taxes, making it easier for people to buy homes.
The largest home builder, D.R.Horton(DHI Quote), saw a 5% jump to $9.14 in afternoon trading, Lennar(LEN Quote) jumped 6% to $9.41, KB Home(KBH Quote) increased 4.5% to $14.98 and Toll Brothers (TOL Quote) rose 5% to $18.35. ...
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