First Time Homebuyer Tax Credit.. Is it working?

First Time Homebuyer Tax Credit .. Is it working? I know that a while ago, I read and commented on a post in AR with many REALTORS and Loan Officers saying they were not so sure whether or not the tax credit has worked nor is it needed. I am a bit skeptical about these type of comments. Let's keep it in perspective! Not all markets are alike. In fact, living and working in Arizona, the program has done miracles to our market. In fact, it is hard to buy a home right now due to the feeding frenzy. Regardless of what some of the micro markets are doing, the overall country has benefited from this program.

However, some of those opposed to it have some valid points and reservations. The program is costing a lot of money and before this point, most people haven't had any tool of measure as to the program's effectiveness. That been said, the data presented is compelling enough to "at the least" calm the fears as to the program's effectiveness. What I can share with you is that I have many clients buying due to this program and without it, I am a bit concerned to the reaction it will create once expired.

For the naysayers, let me share with your some data from the Fix Housing First Iniative: