“All eyes on May” in wake of tax credit

Love it or hate it — but real estate analysts say the first-time homebuyer tax credit has made waves in the national residential market. Spencer Rascoff, chief operating officer with real estate tracking firm Zillow.com, told MSNBC that data from the week’s following the tax credit’s April 30 expiration will be important to watch. “All eyes are on May,” Rascoff said. “[May] is the first month… in 16 months that the government is not paying people to buy homes.”