The Homebuyer Tax Credit Ended - Now What?

In Albuquerque, New Mexico as in many other parts of the country, April saw a flurry of homebuying activity because those with the will and the means made an effort to sign purchase agreements before the end of April so as to get the federal homebuyer tax credit before ended at the April 31. For many who signed contracts, closings may not take place for another month or two so we are still experiencing the effects of the tax credit which may last through the summer.

People in and outside of the real estate industry are watching with interest to see what will happen next in  the residential real estate. It's as if we are all taking a deep breath and are waiting to exhale as soon as we feel that we are completely out to the woods with respect to market recovery.  Will the market maintain the momentum developed over the pasr few months?  Almost one month later, there are no significant changes to report and many remain cautious and hesitant to predict the future. In the meantime, we continue to add listings, hope for improved employment figures, and that buyers will find lenders able and willing to provide loans. neIt will be interesting to see what next month's update. will offer us.