According
to the Commerce Department, home sales have climbed 5.7 percent in the past few
months nationwide, the fastest rate in two years.
Home
sales on the West Side have seen this same jump in sales as well over the past
few months.
“There
has been a tremendous increase on the West Side,” said Richard Fontana, real
estate agent for MJ Peterson Real Estate. “There is quite a bit of investment
and local ownership moving to the West Side”
With
mortgage and interest rates at record lows coupled with the many benefits the
West side has to offer, more people are moving into the area.
“
We show people all the finer points of the West Side like the affordability, the
closeness to downtown, the quality of homes and the good schools in the area,”
said Fontana.
One
area in particular that has seen an added boost in sales over the past couple
of months has been around Richmond Avenue because of the reputation of the
neighborhood and its affordability compared to other wealthier areas, according
to Fontana.
But,
a challenge to any area experiencing a housing boom is keeping the sales rates high
and according to Wayne Malcomb, real estate agent at Niagara Frontier Funding
and Reality, rates should continue to increase.
“
If we can keep proper houses in decent shape continually in the market, the
housing market in general should do well,” said Malcomb. “With the
affordability and the rates what they are, housing should continue to pick up.”
By Max Borsuk and Maria Yankova
