AGAWAM, Mass. (WWLP) — It’s known as the American dream: to save up and buy a home you can call your own. But that dream was rocked in the 2008 market crash and has been slow to recover ever since.
Now, the Realtor Association of Pioneer Valley’s April report shows that home sales are on upward trend with sales up nearly 6% in the region from this same time last year.
Local realtor Brian Sears told 22News that those numbers mean that people have growing faith in the market, are feeling good about their financial situation, and that it’s likely credit scores are improving.
Sears also told 22News that it is neither a buyer’s nor a seller’s market right now, but that there is a great demand from buyers for homes that are “move-in ready.”
“Buyers are hungry for homes that are prepared well for the marketplace so that you have the curb appeal and when you go into the house that it looks good,” Sears said. He added that the move-in ready homes are the ones selling the quickest, so if you’re looking to sell, making repairs and upgrades ahead of time could be to your benefit.
As for buyers, Sears says mortgage interest rates have remained low, so now is a good time to start looking.
Longtime homeowner Mark Enslein says that even though he’s not looking to buy, those low interest rates have also been a benefit to his family.
“Well what we’ve done is gone through a re-fi. And we’ve done that a couple of times over the 30 years and right now we are at a rate that is phenomenal,” Enslein said.
The April home sales report also shows the Pioneer Valley’s average home prices rose from the same time one year ago.