Turns out, at least according to a recent NAR survey, it’s not the tax credit that’s motivating buyers—not primarily anyway. It’s more wanting to own a home and finding good pricing.

from “Cheaper Prices–More Than Tax Credit,” U.S. News & World Report:

  • “But in a recent NAR survey, only 6 percent of first-time home buyers—who made their purchase during the 12 months ending last June—cited the tax credit as the primary reason behind their decision.”
  • The article goes on to say:

  • “The tax credit was the fourth-leading ‘primary’ reason first-time buyers made their purchase, according to NAR’s 2009 profile of home buyers and sellers. At 62 percent, the desire to own a home was the leading reason, followed by the affordability of homes (10 percent) and a change in family situation (8 percent).”
  • So what does this mean for you as a home seller?

    1. Don’t rely on tax credits to motivate buyers towards your property.
    2. Be proactive in pricing aggressively to attract interest.

    For more information on pricing, see these Buy Owner Blog articles: