The law defines a tax credit qualified move-up home buyer (â€œlong-time residentâ€) as a person who has owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. Repeat home buyers do not have to purchase a home that is more expensive than their previous home to qualify for the tax credit.
Below is the FAQ website for the federal tax credit, in case this helps.....
But if you wanted to read over, here is the government site for the credit http://www.irs.gov/newsroom/article/0,,id=204671,00.html