Realtors will not seek extension of expiring homebuyer tax credit

The National Association of Realtors will not seek an extension of the homebuyer tax credit.

The credit is set to expire at the end of April. It had been extended from November, when it first expired.

"We think this one is going to do the trick," NAR spokesman Lucien Salvant told The Hill.

"It's developing right now that it's going to have the same kind of surge that the last one had in November. When it got down to the deadline on the tax credit, there was an upsurge in pending home sales."

The group has contacted several lawmakers and none of them plan to introduce legislation extending the tax breaks.

"If a Congressman does drop a bill we'd be happy to look at it," Salvant said.

Last November, Congress extended the $8,000 first-time homebuyer tax credit for purchases ratified by April 30 that close before June 30.

Lawmakers added a $6,500 tax credit to the bill for veteran purchasers that can't qualify for the first-time buyer credit.