What Did the Tax Credit Do?

A look back on the First-Time Buyer Tax Credit… According to a report just leased by the National Association of Realtors®, the tax credit did generate activity in the housing market. “The number of first-time home buyers rose to a record high 50 percent of all home sales” from July 2009 and June 2010. Our new housing market has created a buyer with long term grow and investment on their minds, and these first-timers “plan to stay [in their homes] for 10 years” according to the report. Whether you agree or disagree with the tax credit, it is great to see more people able to live the American Dream. Source: Walter Molony, 2010 NAR Profile of Home Buyers and Sellers