According to a recent article in Real Economic Times, the federal tax credit is responsible for 400,000 home sales.
The article went on to add that the tax credit persuaded buyers who were going to wait a few years, to buy now instead.
One other point made was the idea that maybe the tax credit should be extended to all buyers, not just first time home buyers.
While I agree the tax credit has helped tremendously, lower prices and lower interest rates have contributed to increased home sales as well. People who had no chance of ever buying a home, can now afford to buy.
Laurel Md real estate reflects what has happened across most of the country. Laurel Md home sales have increased this year over last year.