Survey deems expiring homebuyer tax credit a success

A survey by The Tax Institute at H&R Block found that the expiring homebuyer tax credit played a key role in helping to turn the housing market around. 

"Undoubtedly the tax credit is working," said National Association of Home Builders chairman Bob Jones in prepared remarks. "Builders are seeing a growing optimism among consumers." 

According to the survey, 75 percent of respondents were aware of the tax credit. It's popularity helped to spur the sale of 180,000 new and existing homes between November 2009 and April 2010. 

Homebuyers have until tomorrow to ratify the purchase of a home and claim a credit for up to $8,000, up to $6,500 for repeat buyers. The provision was originally set to expire last November, but Congress modified and extended it through Apr. 30, 2010. Currently, the measure is not expected to be extended.