Woohoo! The tax credit was extended for three more months! Kinda, sorta, but not really at all. They just wanted to get everyone’s hopes up.
The extension will not help you if you are going to purchase a home in the next three months. The extension is only for buyers who were already under contract by the April 30 deadline, but who were in jeopardy of not closing the deal by the June 30 deadline. The AP reports that 180,000 homebuyers were expected to miss the deadline.