The Tax Credit brought a lot of buyers out last fall and again this spring, which gave a real shot in the arm to real estate. While that heightened volume cannot be sustained, home sales and prices still remain higher than last year due to interest rates at historically low levels and the lowest home prices seen in years. A monthly survey of 54 metropolitan areas reveals that closed transactions in June were 5.6% higher and prices 3.5% higher than during June 2009.
"There's no question, the tax credit has had a significant impact on this market,
" said RE/MAX CEO Margaret Kelly."No one can predict the future, and we may still see a slight pull back, but for right now it appears that housing is holding its own, hopefully on the road to a sustainable recovery."
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