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End of the 1st time home buyers tax credit – how will it affect home sales in Macomb County going forward?

May 3rd, 2010 · 1 Comment · Uncategorized

Finally. No more hype, no more “Hurry it’s going to end!” articles.  Those home buyers in Macomb County who rushed last week to make offers to purchase on a home before the end of the first time home buyers tax credit will breath a sigh of relief.  They got it done, (so far) and now have to work on getting their homes to the closing table before the end of June.

What about the rest of the home buyers?  That’s one of the big questions that many home sellers in Macomb County, and real estate professionals have that will need time to analyze over the coming months in order to be able to answer.

My guess-timate? Those who are serious about owning a home will buy a home.  They won’t need a subsidy from the Federal government to commit to home ownership.  I also believe that we’ll start to see a bit of a stabilizing in home prices as there won’t be a rush of people to buy a clean well priced home the first day it hits the market.

In the next few days I’ll have the data from home sales in April and will have that on hand to compare with the months coming.  We will all have a much better idea of how the loss of the 1st time home buyers tax credit will affect housing sales by June or July.  Look for upcoming articles about this as I know it is something that impacts and interests so many of us in Macomb County.

~Kris Wales~  A partner for your real estate needs in Macomb County MI
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1 response so far ↓

  • 1 Jodi // May 3, 2010 at 11:28 am

    Kris can you post the sales when you get them in? For Fraser?

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