With the expansion in federal programs that assist homeowners with mortgages and curb foreclosures, coupled with the near end of the homebuyer tax credit, economists are anticipating a spike in home sales.
The tax credit expires on April 30 and mortgage rates are expected to increase later this year, so home buyers who are on the fence will want to--and most likely will--take advantage of the timing and incentives. Plus, foreclosed homes are still great deals for investors and buyers who don't view the future with as much fear.
Some are worried about an "exit strategy" for the end of the homebuyer tax credit and some states are looking to expand their own tax incentives once the federal credit expires.
What will happen come summer is anyone's call at this point, but spring is certainly to spike.
