Despite affordable home prices and low interest rates, the majority of Americans considering a home purchase still need a little extra incentive. According to a recent survey conducted by Weichert, Realtors, increasing the current tax credit to $15,000 and/or extending it to all buyers would offer the motivation needed to turn more onlookers into buyers.
The study of more than 500 visitors to Weichert.com, found that of those who had not yet made the decision to buy, 84 percent would be highly-motivated to purchase a home if they could receive a tax credit of $15,000. In contrast, only 46 percent of respondents said they would be highly motivated to buy if they received an $8,000 tax credit. More.