End of home buyer tax credit unlikely to deter most real estate buyers

The expiration of the 2010 Home Buyer Tax Credits on April 30 is unlikely to put off Americans looking to buy homes who believe now is a good time to buy and are confident that home prices will rise according to a recent survey.


Among consumers actually shopping for homes, 65 percent believe that the end of the tax credits will have little or no effect on their interest in purchasing a home.   While consumers remain unsure about the direction of the housing market, the survey reveals that they're optimistic about real estate values with 46 percent expecting real estate prices in their area to increase over the next year.

Just 12 percent expect prices will decline. Over the next five years, 79 percent expect real estate prices to increase, with 20 percent expecting that prices will increase substantially.  Survey respondents identified concerns about rising mortgage interest rates and unemployment as the most important factors affecting their decision to purchase a home, along with more stringent lending criteria and fewer mortgage-backed securities purchased by the Federal Reserve. The expiration of the tax credits placed lowest on their list of concerns.

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