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Only 5% of Americans Plan to Buy a Home in 2010

Posted on | November 11, 2009 | 1 Comment

In a survey that was released this Wednesday, results show that only 5% of Americans plan to buy a house in 2010.  Of those who are likely to buy a home the are most likely to be under the age of 34 and living in the South or West.  Approximately 25% of the buyers stated that they planned to buy a home in 2010 because they feel housing prices have bottomed.

The survey was completed by Move, Inc with the intention of finding out what is expected of the housing market in 2010.  The housing market has seen a steady drop since the top in July 2006.  Over the last four months we have seen a stabling process but much of that could be due to the first time home buyers tax credit.

The tax credit that was set to expire on November 30th, 2009 has been extended through April 2010 and has been extending to move up buyers.  Those buyers who have been in their primary residence for more than five years and plan to move up will receive a $6500 tax credit it they buy a new home.

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Author: Jesse Wojdylo

Category: Current News

Comments

One Response to “Only 5% of Americans Plan to Buy a Home in 2010”

  1. Joanne Devoe
    November 12th, 2009 @ 8:46 am

    your numbers are off. There are more people than you think over the age of 40 looking for first time buying. I am one of them. Do not discount us.
    Thank you and God Bless

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