A recent survey showed that home buyers are still keen on fulfilling the American Dream, even without the first-time home buyer tax credit program.

According to the Prudential Real Estate and Relocation Services (PRERS) poll, 65% of those who are considering buying a house are sticking to their plans despite the impending expiration of the tax credit program on April 30. They stressed that the end of the tax incentives has little or no effect on their interest in purchasing a home.

Home buyers have until tomorrow to put a property under contract to qualify for the tax break. Despite the looming end of the tax credit program, the survey found that the expiration of the Obama administration-led initiative is the least of home buyers’ concerns.

The most important factors that can affect consumers’ decision to purchase a property, according to the survey, are rising mortgage interest and unemployment rates. They may also reconsider their plans to fulfill the American Dream if there will be stricter lending criteria and fewer mortgage-backed securities purchased by the Federal Reserve. “While the tax credit expiration is a concern for many, the bigger issues now are the availability and cost of financing as well as if they will have a job,” PRERS president Earl Lee said.

The study also revealed that many home buyers believe that real estate prices will continue to go up in the coming months. About 46% believe that home prices in their area are likely to increase by next year while 12% believe otherwise. With regards to the tax credit program, 90% said the initiative has helped both first-time home buyers and the real estate market in general.

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