On October 29, the Senate voted to extend the $8,000 California First Time Home Buyer tax credit which was set to expire on December 1, 2009 until April 30, 2010.

“We welcome efforts taken by Congress to extend the first-time homebuyers tax credit for a limited period,” said Treasury Secretary Tim Geithner and U.S. Department of Housing & Urban Development (HUD) Secretary Shaun Donovan in a joint statement. “This credit has brought new families into the housing market and contributed to three consecutive months of rising home prices nationwide.”