The Home Buyer Tax Credit has been extended. Senators agreed to extend the tax credit which provides up to $8,000 to first-time buyers to April 30, 2010.

The program was initially set to expire November 30, and is credited for stimulating the nation’s housing industry. However, the Commerce Department reports that after seeing a decline in new-home sales, some industry experts blamed consumer uncertainty about the tax credit.

Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years. The tax credits will be available to home buyers who sign sales agreements by the end of April. They would have 60 days or until June 30 to close on their new homes, according to a summary of the legislation being circulated among lawmakers.