Selling frenzy as homebuyer credit nears end
Shared by Henry
We could see higher home sales in the May report (On Apr. data) as this may artificially increase housing demand. But the real health of the housing market should reflect on the June, July and August releases.
Real estate agents are working seven days a week and homebuyers are scrambling to get their offers in as they rush to take advantage of tax credits that expire at midnight Friday.