Summary Box: Housing market gets lift from buyers rushing to qualify for tax credits

Summary Box: Homebuyers rush for tax credits

MAD DASH: Homebuyers are scrambling to take advantage of tax credits that expire Friday. To qualify, buyers must have a signed contract in hand by the deadline and must complete the deal by June 30.

ASSIST FROM UNCLE SAM: The government is offering buyers who haven’t owned a home for three years a tax credit of 10 percent of the purchase price, up to $8,000. There is also a credit of up to $6,500 for buyers who already own a home and decide to move.

TAXPAYER TAB: Nearly 1.8 million households had applied for the credit as of mid-February at a cost of $12.6 billion.