SPRINGFIELD, MA (WGGB/WSHM) -- More and more people across the country are looking to buy homes during the coronavirus pandemic, so much so that the number of Americans signing contracts to buy homes has rebounded a record of nearly 50 percent.
Signs are up and many people across the country and in western Massachusetts are looking to buy a home.
“Any home that goes on the market, we're getting two to five offers on it, all with escalation clauses,” said real estate agent Denise DeSellier.
The National Association of Realtors released these numbers this week that said the number of Americans signing contracts to buy houses rebounded a record 44.3 percent in May.
This comes after a record-breaking decline in April.
Now, its index of pending sales have risen to 99.6 in May, the highest month-over-month gain since January 2001.
DeSellier broke down the numbers in western Massachusetts.
"June of ’19, we were getting 95 percent of list price. Right now, you're up to date to June, we're at 98 percent of list price and any multiple offers are selling over list price,” DeSellier noted.
Interest in new homes is also on the rise.
"New home construction is back up. I think also, because of the rates, people making their move. I just had two people...sold their home and move into larger homes...because they can afford it now,” DeSellier explained.
While more people are looking to buy homes in western Massachusetts, we're told there aren't enough houses for sale right now.
"Inventory is way down...I think a lot of the people are still nervous of having people in their homes,” DeSellier noted.
DeSellier told Western Mass News while many potential sellers are holding off due to coronavirus concerns, those who are putting their houses on the market are finding success.
"They're not really having a lot of activity of people coming through because they're selling right away,” DeSellier said.
Another positive for the market is mortgage rates.
"They're still way down. They're still in the low threes,” DeSellier added.
So if you're looking to sell your home, DeSellier said now is the time.
"It's a sellers market for anyone that wants to sell and get the best price,” DeSellier said.