Hello neighbors,

As many may know, the Home Buyers Tax Credit expired at 12am this morning. With that being said will there be a decrease in home sales in the real estate market? This question is very much in debate.

Some real estate industry leaders feel the expiration of the tax credit will not have a tremendous impact on the real estate market. In addition, they feel buyer interest this spring has proven to be pretty strong.

According to an article on Housing Wire, REO broker Rick Foxx predicts a spike in contracts by 10-20% for this week following the expiration of the tax credit.

In contrast, there are some research firms who feel sales have not picked up as much as they should and feel that sales could actually go down making the actual effect of the tax credit unclear.

One thing that can be said for sure regarding the tax credit and its effects is, only time will tell.