Consumers Remain Optimistic Despite Expired Tax Credit

Managing Real Estate Broker with Connect Realty PB00053359

For months, analysts and industry experts have debated how the expiration of the tax credit will effect the housing market. But, according to a recent survey conducted by Prudential Real Estate and Relocation Services (, consumers are optimistic about real estate. The survey found that 46 percent of potential buyers expected prices to increase over the next year and 20 percent expect significant increases over the next five years. 65 percent of those polled said the end of the tax credit would have little or no effect on their decision to purchase a home. James Mallozzi, Prudential Real Estate's chairman and chief executive officer, said the survey shows that most consumers believe the market has hit bottom and are optimistic about the future. More here ( and here (

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