There is a lot of news in the press about an alleged slowdown in home sales since the expiration of the $8,0000 homebuyer's tax credit on April 30th. While I don't have first hand knowledge of all the markets across the country, I can tell you that passing of the deadline was little more than a bump in the road locally.
Since May 1, no less than 240 houses have gone under contract with home buyers who seem to be taking advantage of historically low interest rates combined with a significant reduction in home prices over the last 3 years, tax credits be damned.
Makes one wonder if the credits were even necessary for reviving the housing market to begin with, especially considering the enormous deficits state and federal governments face for years to come due to unprecedented spending.
Let me know your thoughts.
