Experts see rebound in housing market
Real estate experts say home sales and prices are growing again in the Hudson Valley after dropping because of the recession.
Realtors say first quarter sales figures have been encouraging and the housing market could be making a comeback. According to Leah Caro, last year at this time, there were fewer than 400 sales in Westchester, but this year, there have already been 700 sales.
However, the Westchester Putnam Realtors Association says most homes are still on the market for at least a year and in Putnam County, homes sold are losing about 9.5 percent of their value.
Realtors say they remain cautiously optimistic, however, because the figures may be influenced by the first-time homebuyer's tax credit.