As the new decade dawns, real estate experts see rays of sunshine on the horizon for home buyers, homeowners and the nation’s housing market in 2010.

Boosted by the extension of the $8,000 first-time home-buyer tax credit, and the addition of a new $6,500 tax credit for existing homeowners the outlook for housing and the economy appears headed for a sustainable recovery, predicted Lawrence Yun, chief economist of the National Association of Realtors (NAR).

“We are hopeful about the impact of the expanded tax credit because it will stabilize home prices,” said Yun, who predicted that 2.3 million to 2.4 million first-time buyers will take advantage of the tax credit this year.

—Don DeBat