According to the Massachusetts Association of Realtors, “the number of single-family homes put under agreement in April was up 25 percent over the same time last year, while condominiums were up 22 percent. April is the tenth straight month that the number of both single-family homes and condominiums put under agreement had increased over the year before.”
The tax credit for homebuyers definitely accounted for some of this activity, creating surges toward the end of the deadline(s). But overall the market is more active; here is a Worcester County MA snapshot:
Sales, pending sales, and new listings are up. Because of the new listings coming on and the tendency of sellers to have adjusted their list price expectations to the market, the fact that the homebuyer’s credit is gone may not be the bad thing that it appears to be, for buyers. The credit created a little bubble, here anyway, that may adjust over the next couple of months.
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