A mad-dash to cash in on the soon to be ending federal government’s tax-rebate program for first-time homebuyers has kept Valley home sales marginally higher in October, local real-estate agents and analysts said.

A recent report on preliminary sales figures from Mesa-based Ion Data, sales of Phoenix condominiums and single-family homes increased slightly to 8,275, up from 8,219 in September.

October also had a small decrease of foreclosed homes. There was an estimated 7,082 homes, compared with 7,563 foreclosed homes in September.

Phoenix real-estate agent Robert Luce stated that the abnormally strong October homes sales is related to the soon to be ending First Time Home Buyers Tax Credit, set to expire on November 30. There also seem to be a change in attitude of the current buyers, who seem to believe that home values are beginning to trend upward.

“It is a buyers market and there are some terrific deals available” said Robert Luce of West Valley Pros.

Even with the small increase of home sales and the slight decrease of foreclosures, most real estate agents are still skeptical of the current market conditions.

Most real estate experts base the activity on the high foreclosure rate, and the basement level price ranges.

If the First Time Home Buyers Tac Credit is extended, this trend may continue through the Spring. The Senate recently passed an extension of the tax rebate for some homeowners, but the bill has yet to be passed in the House.