According to a survey done by our friends over at Prudential, buyers do not really care that the tax credit is going to end. Sure, it would be great to get the $8,000 in their pocket, but the end of the tax credit does NOT mean that they will change their mind about buying:
More than 90% of consumers believe that the home buyer tax credits have helped both first-time home buyers and the U.S. housing market overall. Among consumers actually shopping for homes, 65% believe that the end of the tax credits will have little or no effect on their interest in purchasing a home.
Nobody really knows what this market will do, but many feel that things are improving, and many more feel that the next 5 years will hold positive news for the real estate industry. I personally feel like we are on the edge of a much better market. I just think everyone is a little scared to say anything, lest we upset the balance.