Rates, tax credit may prod market
Tuesday's dose of snow and ice marked the traditional end of the yearly home-selling season.
Or did it? Bankers and brokers think that two unique variables — the extension and expansion of the homebuyer tax credit through June 2010, and continued low mortgage rates — could keep buyers and sellers active this winter.
"We don't expect to traditionally see the sales in December and January that we do in May and June and that's true again this year," said Stan Longhofer, the economist who heads the Wichita State Center for Real Estate.
"But I'd expect you'll see sales up slightly this year on a seasonally-adjusted basis, or at least not declining at previous rates."