Pulte Homes Offers Tax Credit for New Constructions
With residential construction spending falling for the 15th straight month in June, according to the U.S. Census Bureau, home builders across the country are looking for new ways to get people interested in home buying again.
Pulte Homes, based in Bloomfield Hills, MI, plans to match the $7,500 tax credit that the federal government is offering to first-time home buyers as part of its housing stimulus package. Pulte will also include all home buyers as apart of its Jump-Start promotional offer, not just first-time buyers.
Jump-Start incentive
Pulte Homes's Jump-Start offer applies to new purchase agreements executed between August 5, 2008 and September 15, 2008 on Pulte, Del Webb and DiVosta homes. This promotional offering varies by community and may be part of or added to existing offers. Pulte Homes has operations in 50 markets and 26 states.
Nationwide, spending on privately owned residential construction projects dropped to a seasonally adjusted annual rate of $327.5 billion in June, down about 1.8 percent from May and down 26.7 percent compared to June 2007, according to the recent Census Bureau report. It was the lowest rate since October 2001, when it stood at $371 billion. This rate is a projection of a monthly total over a 12-month period, adjusted to account for seasonal variations in construction activity.
Total construction spending, including public and private construction projects, hit an annual adjusted rate of $1.08 trillion in June, down about 0.4 percent compared to May and down 5.9 percent compared to June 2007, the Census Bureau reported.
It's expected that many other leading home builders will begin jumping on the Pulte bandwagon and offer similar incentives. I think there are plenty of prospective home buyers out there that have the finances for a new home but have been waiting on the sidelines for these types of bargain deals. It doesn't hurt to lure them out of hiding with some candy-coated incentives.
You can contact a local Pulte Homes community for more details by visiting Pulte.com or calling (888) 68-PULTE.
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