BOSTON (WWLP) - Realtors say the housing market is showing signs of a recovery, home sales are going up and so are the prices. Whether you're in it to sell or buy, realtors say, right now's a good time to be in the market.
"It's a really good time for both sellers and buyers. We have a very low inventory right now compared to other years, it's really good for sellers because there's less competition and it's really good for buyers because the interest rates are still very low," said Corinne Fitzgerald, realtor and owner of Fitzgerald Real Estate in Greenfield.
Realtors say many home sellers in western Massachusetts are getting multiple offers on their homes. They say 4 % interest rates for buyers are also making home purchases more affordable. Sales in Springfield are doing especially well, representing 25 percent of the homes sold in Hampden County.
"It's just a sign that you know people do have confidence in Springfield, it's a market that affords someone to be able to buy their first home" said Realtors Association of the Pioneer Valley President Brian Sears. "Right now it's a good time to just be in the real estate market to be looking to buy, to sell… and to you know get a good deal."
Realtors are looking to state lawmakers to help the housing market recover by opposing Governor Deval Patrick's state budget proposal to eliminate the capital gains exclusion. The exclusion lets couples exempt up to $500,000 dollars from taxation on home sales.
"One of the things that we want to send our message to our local officials is do no harm, don't mess with things that are currently working," said Massachusetts Association of Realtors President Kimberly Allard-Moccia.
Realtors are also combating metal piping theft – It devalues homes and makes them unmarketable. They're urging lawmakers to create an abandoned property registry and require scrap metal dealers to keep track of their transactions.
While low home inventory drove home sales down in April, realtors say a jump in new listings will likely boost future sales.