According to National Association of REALTORS® pending home sales have significantly increased due to the affordability in the market right now.

The Appointment Desk used by my office reported record showings over the past two weeks. In Nashville, showings tripled from numbers for last January. Buyers are ready to take advantage of the current incentives.

As of now, the $7500 tax credit applies only to those first time buyers who close by June 30, 2009. Since closing can take anywhere from one to three or more months (depending on the conditions of the sale), those who don't make the decision to buy within the next month or two may lose out on these deals.

That doesn't mean anyone should make hasty decisions, but it should help anyone on the fence jump one way or the other.