Yes, the first-time home buyer tax credit that was supposed to end by the end of November has been extended to April 2010.
This is absolutely great news to many buyers that felt the pressure of getting into a home before the deadline. I just hope that the banks will release some of the foreclosed properties out on the market now, so that the buyers can take advantage of this credit extension.
According to the IRS website-
Under the new law, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2010 and close on the home by June 30, 2010. For qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 return.
More info from the IRS
Tax Extension
