The last round of the home-buyer tax credit may have had a bigger impact than analysts had previously anticipated. In this article, Thomas Lawler, an independent housing economist in Leesburg, Va, indicates that the latest home-buyer tax credit, and its expiration, may have goosed sales just as much as last year’s tax credit. Mr. Lawler noted that new home sales may have done better during this spring’s rush to beat the expiration of a tax credit. Demir Gjokaj, a senior homebuilding analyst at Majestic Research, says that there were signs of a last-minute surge in existing home listings as the tax credit expiry neared.

If the tax credit worked in changing buyer psychology, it may have also had the same effect on potential sellers. Time will tell. Hopefully, the home buyer tax credit helped in turning things around.

The Home-Buyer Tax Credit May Have Actually Worked – Developments …

Did the last round of the home-buyer tax credit have a bigger impact than analysts had previously anticipated?

Publish Date: 05/27/2010 10:19

http://blogs.wsj.com/developments/2010/05/27/the-home-buyer-tax-credit-may-have-actually-worked/

Escrow or closing deadline is May 1, 2010.

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