The big homebuyer tax credit expired on Friday, and many buyers, sellers, Realtors and builders scrambled to make sure people who sought to take advantage of the credit were able to. But was it the boon builders hoped it would be? Will construction and existing-home sales (and the remodeling work that comes with them) fall off a cliff now that the tax credit is a thing of the past?

A last-minute report from the Associated Press paints a picture of eager and hurried homebuyers and frantic real estate agents in a mad dash to get deals done, saying, “The tax incentives — offered to both first-time buyers and some current homeowners — are fueling a strong spring selling season and helping home prices stabilize.” Later, the report says:

After the tax credit is gone, though, the surge could be short-lived. Many analysts project sales will drop sharply in the second half of the year. Some expect prices to plunge as well, especially if mortgage rates rise and a wave of foreclosed homes hits the market. …

Still, the housing market seems finally to be regaining its footing after the worst downturn since the Depression.

Builder magazine, however, throws some cold water on the hype: “Despite the last-minute push, though, it appears as though — for better or for worse — this tax credit extension has only brought a limited sales boost to builders this year.”

What are you seeing the marketplace? Has the tax credit had an impact on your business? What are your plans for the post-tax credit era?

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